MIRA
INFORM REPORT
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Report Date : |
25.04.2013 |
IDENTIFICATION DETAILS
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Name : |
YAMAHA MOTOR CO., LTD. |
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Registered Office : |
2500, Shingai, Iwata-Shi, 438-8501 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
01.07.1955 |
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Legal Form : |
Public Subsidiary Company |
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Line of Business : |
Subject is engaged is business segment which includes the two-wheel vehicle segment, the marine segment, the special machinery segment, the industrial machinery and robot segment |
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No. of Employees : |
53958 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
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) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
japan ECONOMIC OVERVIEW
In the years following World War
II, government-industry cooperation, a strong work ethic, mastery of high
technology, and a comparatively small defense allocation (1% of GDP) helped Japan
develop a technologically advanced economy. Two notable characteristics of the
post-war economy were the close interlocking structures of manufacturers,
suppliers, and distributors, known as keiretsu, and the guarantee of lifetime
employment for a substantial portion of the urban labor force. Both features
are now eroding under the dual pressures of global competition and domestic
demographic change. Japan's industrial sector is heavily dependent on imported
raw materials and fuels. A 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
Yamaha Motor Co., Ltd.
2500, Shingai
Iwata-Shi, 438-8501
Japan
Tel: 81-538-321103
Fax: 81-538-374252
Synthesis
Employees: 53,958
Company Type: Public Subsidiary
Corporate Family: 162
Companies
Ultimate Parent: YAMAHA
CORPORATION
Traded:
Tokyo Stock Exchange: 7272
Incorporation Date:
01-Jul-1955
Auditor: Ernst & Young ShinNihon LLC
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2012
Reporting Currency: Japanese
Yen
Annual Sales: 15,134.2 1
Net Income: 93.9
Total Assets:
11,206.8 2
Market Value:
4,812.5 (12-Apr-2013)
Business Description
Yamaha Motor Co., Ltd. is a Japan-based manufacturing company. The Company operates in five business segments. The Two-wheel Vehicle segment manufactures and sells motorcycles and bicycles. The Marine segment manufactures and sells outboard engines, water vehicles, sailing boats, fishing boats and Japanese-style boats. The Special Machinery segment provides four-wheel buggies, side-by-side vehicles, snowmobiles, golf carts, power generators and general engines. The Industrial Machinery and Robot segment mainly provides surface mounters. The Others segment provides automobile engines. As of December 31, 2011, the Company had 117 subsidiaries and 26 associated companies. For the fiscal year ended 31 December 2012, Yamaha Motor Co., Ltd. revenues decreased 5% to Y1.208T. Net income applicable to common stockholders decreased 72% to Y7.49B. Revenues reflect Motorcycle Business segment decrease of 10% to Y798.68B, Asia segment decrease of 10% to Y535.95B, Other Areas segment decrease of 15% to Y134.17B, Europe segment decrease of 10% to Y131.35B.
Industry
Industry Recreational Products
ANZSIC 2006: 2399 - Other
Transport Equipment Manufacturing Not Elsewhere Classified
NACE 2002: 354 - Manufacture
of motorcycles and bicycles
NAICS 2002: 336991 -
Motorcycle, Bicycle, and Parts Manufacturing
UK SIC 2003: 354 - Manufacture
of motorcycles and bicycles
UK SIC 2007: 309 - Manufacture
of transport equipment n.e.c.
US SIC 1987: 3751 -
Motorcycles, Bicycles, and Parts
Key Executives
|
Name |
Title |
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President, Chief Executive Officer and Representative Director |
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Osamu Ishioka |
President and Representative Director ,Nishi Nippon ,Yamaha |
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Managing Executive Officer, Chief Director of Finance and Planning,
Director |
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Senior Executive Officer, Chief Director of Human Resources and
General Affairs, Director |
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Executive Officer, President of Subsidiary |
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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Traded: Tokyo
Stock Exchange: 7272 |
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As of 12-Apr-2013 Financials in: JPY |
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1 - Profit & Loss Item Exchange Rate: USD 1 = JPY 79.79749
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 85.87
Corporate Overview
Location
2500, Shingai
Iwata-Shi, 438-8501
Japan
Tel: 81-538-321103
Fax: 81-538-374252
Quote Symbol - Exchange
7272 - Tokyo Stock
Exchange
Sales JPY(mil): 1,207,675.0
Assets JPY(mil): 962,329.0
Employees: 53,958
Fiscal Year End: 31-Dec-2012
Industry: Recreational
Products
Incorporation Date: 01-Jul-1955
Company Type: Public
Subsidiary
Quoted Status: Quoted
President, Chief
Executive Officer and Representative Director:
Hiroyuki Yanagi
Industry Codes
ANZSIC 2006 Codes:
2399 - Other Transport Equipment Manufacturing Not Elsewhere
Classified
2469 - Other Specialised Machinery and Equipment Manufacturing
2392 - Boatbuilding and Repair Services
2439 - Other Electrical Equipment Manufacturing
231 - Motor Vehicle and Motor Vehicle Part Manufacturing
NACE 2002 Codes:
354 - Manufacture of motorcycles and bicycles
3110 - Manufacture of electric motors, generators and transformers
3162 - Manufacture of other electrical equipment not elsewhere
classified
2924 - Manufacture of other general purpose machinery not
elsewhere classified
3550 - Manufacture of other transport equipment not elsewhere
classified
3511 - Building and repairing of ships
3410 - Manufacture of motor vehicles
NAICS 2002 Codes:
336991 - Motorcycle, Bicycle, and Parts Manufacturing
336612 - Boat Building
335312 - Motor and Generator Manufacturing
336312 - Gasoline Engine and Engine Parts Manufacturing
333298 - All Other Industrial Machinery Manufacturing
335999 - All Other Miscellaneous Electrical Equipment and Component
Manufacturing
336999 - All Other Transportation Equipment Manufacturing
US SIC 1987:
3751 - Motorcycles, Bicycles, and Parts
3621 - Motors and Generators
3714 - Motor Vehicle Parts and Accessories
3799 - Transportation Equipment, Not Elsewhere Classified
3559 - Special Industry Machinery, Not Elsewhere Classified
3732 - Boat Building and Repairing
3699 - Electrical Machinery, Equipment, and Supplies, Not
Elsewhere Classified
UK SIC 2003:
354 - Manufacture of motorcycles and bicycles
3550 - Manufacture of other transport equipment not elsewhere
classified
3162 - Manufacture of other electrical equipment not elsewhere
classified
2924 - Manufacture of other general purpose machinery not
elsewhere classified
3410 - Manufacture of motor vehicles
3110 - Manufacture of electric motors, generators and transformers
3511 - Building and repairing of ships
UK SIC 2007:
309 - Manufacture of transport equipment n.e.c.
2829 - Manufacture of other general-purpose machinery n.e.c.
3011 - Building of ships and floating structures
2711 - Manufacture of electric motors, generators and transformers
2790 - Manufacture of other electrical equipment
2910 - Manufacture of motor vehicles
3099 - Manufacture of other transport equipment n.e.c.
Business
Description
Yamaha Motor Co.,
Ltd. is a Japan-based manufacturing company. The Company operates in five
business segments. The Two-wheel Vehicle segment manufactures and sells
motorcycles and bicycles. The Marine segment manufactures and sells outboard
engines, water vehicles, sailing boats, fishing boats and Japanese-style boats.
The Special Machinery segment provides four-wheel buggies, side-by-side vehicles,
snowmobiles, golf carts, power generators and general engines. The Industrial
Machinery and Robot segment mainly provides surface mounters. The Others
segment provides automobile engines. As of December 31, 2011, the Company had
117 subsidiaries and 26 associated companies. For the fiscal year ended 31
December 2012, Yamaha Motor Co., Ltd. revenues decreased 5% to Y1.208T. Net
income applicable to common stockholders decreased 72% to Y7.49B. Revenues
reflect Motorcycle Business segment decrease of 10% to Y798.68B, Asia segment
decrease of 10% to Y535.95B, Other Areas segment decrease of 15% to Y134.17B,
Europe segment decrease of 10% to Y131.35B.
More Business Descriptions
Manufacture and
marketing of motorcyles, scooters, electro-hybrid bicycles, fibreglass
reinforced plastics for power boats, sailing boats, water vehicles, swimming
pools, utility boats, fishing boats, outboard motors, marine diesel engines,
4-wheel all terrain vehicles, racing carts, golf cars, multi-purpose engines,
generators, water pumps, snowmobiles, snow removing equipment, automobile
engines, industrial robots, gas engine heat pump air conditioners, industrial
unmanned helicopters; tourism development and management of sporting and
recreational facilities
Mfr of
Motorcycles, Boats, Outboard Motors, Snowmobiles, Portable Generators,
Watercraft, Unmanned Helicopters & Car Engines
Yamaha Motor Co.
Ltd., is a global manufacturer and retailer of motorcycles, scooters,
electro-hybrid bicycles, boats, sail boats, water vehicles, pools, utility
boats, fishing boats, outboard motors, diesel engines, 4-wheel ATVs,
side-by-side vehicles, racing karts, golf cars, multi-purpose engines,
generators, water pumps, snowmobiles, small-sized snow throwers, automotive
engines, intelligent machinery, industrial-use remote control helicopters,
electrical power units for wheelchairs and helmets. The company also is
involved with biotechnological production, the processing and sales of
agricultural and marine products and microorganisms. It also imports and sells
various types of products, development of tourist businesses and management of
leisure, recreational facilities and related services. Founded in 1955, Yamaha
Motor's Co., first product was the 125cc Yamaha motorcycle YA-1 begins. That
same year the YA-1 won the 125cc class of the third Mount Fuji Ascent Race.
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Corporate Family |
Corporate
Structure News: |
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YAMAHA
CORPORATION |
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Yamaha Motor Co., Ltd. |
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Company Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Hamamatsu-Shi |
Japan |
Recreational Products |
4,516.3 |
19,694 |
|
|
Subsidiary |
Iwata-Shi |
Japan |
Recreational Products |
15,134.3 |
53,958 |
|
|
Subsidiary |
Karawang, West Java |
Indonesia |
Recreational Products |
|
3,638 |
|
|
Subsidiary |
Chungli City, Taoyuan |
Taiwan |
Recreational Products |
|
1,702 |
|
|
Subsidiary |
Newnan, GA |
United States |
Auto and Truck Parts |
|
1,000 |
|
|
Subsidiary |
Malvar, Batangas |
Philippines |
Recreational Products |
|
700 |
|
|
Subsidiary |
Rouvroy |
France |
Recreational Products |
222.4 |
681 |
|
|
Subsidiary |
Guarulhos, SP |
Brazil |
Recreational Products |
|
600 |
|
|
Subsidiary |
Lima |
Peru |
Auto and Truck Manufacturers |
|
132 |
|
|
Subsidiary |
Ituzaingo, Buenos Aires |
Argentina |
Recreational Products |
119.2 |
120 |
|
|
Subsidiary |
Kakegawa, Shizuoka Pref |
Japan |
Miscellaneous Capital Goods |
501.4 |
529 |
|
|
Affiliates |
Bekasi, West Java |
Indonesia |
Auto and Truck Parts |
|
500 |
|
|
Subsidiary |
El Prat De Llobregat, Barcelona |
Spain |
Recreational Products |
354.4 |
478 |
|
|
Subsidiary |
Yatsushiro, Kumamoto |
Japan |
Miscellaneous Capital Goods |
270.5 |
445 |
|
|
Subsidiary |
Cypress, CA |
United States |
Aerospace and Defense |
521.5 |
375 |
|
|
Subsidiary |
Kilgore, TX |
United States |
Recreational Products |
|
250 |
|
|
Branch |
Kennesaw, GA |
United States |
Miscellaneous Capital Goods |
29.6 |
175 |
|
|
Branch |
Bridgeport, AL |
United States |
Retail (Specialty) |
2.4 |
6 |
|
|
Branch |
Kent, WA |
United States |
Retail (Specialty) |
0.9 |
2 |
|
|
Branch |
Blue Bell, PA |
United States |
Personal Services |
|
2 |
|
|
Subsidiary |
Saint Ouen l'Aumône |
France |
Auto and Truck Manufacturers |
448.6 |
180 |
|
|
Subsidiary |
Toronto, ON |
Canada |
Retail (Specialty) |
101.0 |
170 |
|
|
Subsidiary |
Hamamatsu, Shizuoka |
Japan |
Miscellaneous Capital Goods |
28.2 |
170 |
|
|
Subsidiary |
Schiphol |
Netherlands |
Auto and Truck Manufacturers |
1,685.2 |
110 |
|
|
Subsidiary |
Calderara di Reno, BO |
Italy |
Miscellaneous Capital Goods |
83.8 |
297 |
|
|
Subsidiary |
Gerno di Lesmo, MB |
Italy |
Auto and Truck Manufacturers |
289.0 |
126 |
|
|
Subsidiary |
Lesmo, Monza E Brianza |
Italy |
Business Services |
21.6 |
110 |
|
|
Subsidiary |
Farsta, Stockholm |
Sweden |
Recreational Products |
214.5 |
62 |
|
|
Subsidiary |
Schiphol-Rijk, Noord-Holland |
Netherlands |
Retail (Specialty) |
44.8 |
30 |
|
|
Subsidiary |
Amadora, Lisboa |
Portugal |
Auto and Truck Manufacturers |
20.8 |
27 |
|
|
Subsidiary |
Schiphol-Rijk, Noord-Holland |
Netherlands |
Retail (Specialty) |
270.2 |
|
|
|
Subsidiary |
Neuss, Nordrhein-Westfalen |
Germany |
Auto and Truck Manufacturers |
127.1 |
70 |
|
|
Subsidiary |
Atizapán De Zaragoza, Estado De Mexico |
Mexico |
Recreational Products |
66.3 |
100 |
|
|
Branch |
Tlalnepantla, Estado De Mexico |
Mexico |
Retail (Specialty) |
|
15 |
|
|
Subsidiary |
Weybridge |
United Kingdom |
Retail (Specialty) |
96.9 |
67 |
|
|
Subsidiary |
Singapore |
Singapore |
Auto and Truck Manufacturers |
716.2 |
36 |
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Capital Goods |
64.9 |
25 |
|
|
Subsidiary |
Kosai, Shizuoka |
Japan |
Miscellaneous Capital Goods |
71.1 |
32 |
|
|
Subsidiary |
Taipei City, Taipei |
Taiwan |
Auto and Truck Manufacturers |
|
25 |
|
|
Subsidiary |
Lesmo, Monza E Brianza |
Italy |
Business Services |
10.1 |
12 |
|
|
Subsidiary |
Jakarta, Jakarta |
Indonesia |
Recreational Products |
3,578.0 |
|
|
|
Subsidiary |
Bekasi, West Java |
Indonesia |
Recreational Products |
|
5,000 |
|
|
Subsidiary |
Bang Sao Thong, Samutprakarn |
Thailand |
Recreational Products |
713.4 |
|
|
|
Subsidiary |
Muang, Chon Buri |
Thailand |
Auto and Truck Parts |
|
1,400 |
|
|
Subsidiary |
Ota-Ku, Tokyo |
Japan |
Retail (Specialty) |
521.5 |
|
|
|
Subsidiary |
Noida, Uttar Pradesh |
India |
Recreational Products |
500.1 |
|
|
|
Subsidiary |
Shuchi-Gun, Shizuoka |
Japan |
Auto and Truck Parts |
232.2 |
|
|
|
Subsidiary |
Bekasi, West Java |
Indonesia |
Recreational Products |
|
380 |
|
|
Subsidiary |
Moscow |
Russian Federation |
Auto and Truck Manufacturers |
192.5 |
|
|
|
Subsidiary |
Noida, Uttar Pradesh |
India |
Recreational Products |
167.1 |
|
|
|
Subsidiary |
Iwata, Shizuoka |
Japan |
Business Services |
137.9 |
|
|
|
Subsidiary |
Hamamatsu, Shizuoka |
Japan |
Aerospace and Defense |
106.9 |
|
|
|
Subsidiary |
Hamamatsu, Shizuoka |
Japan |
Miscellaneous Capital Goods |
86.1 |
|
|
|
Subsidiary |
Iwata, Shizuoka |
Japan |
Software and Programming |
70.7 |
|
|
|
Subsidiary |
Shuchi-Gun, Shizuoka |
Japan |
Auto and Truck Parts |
68.5 |
|
|
|
Subsidiary |
Iwata, Shizuoka |
Japan |
Engineering Consultants |
62.4 |
|
|
|
Subsidiary |
Iwata, Shizuoka |
Japan |
Miscellaneous Fabricated Products |
49.8 |
|
|
|
Subsidiary |
Iwata, Shizuoka |
Japan |
Computer Services |
14.6 |
|
|
|
Subsidiary |
Hanoi |
Viet Nam |
Recreational Products |
|
|
|
|
Subsidiary |
Hangzhou, Zhejiang |
China |
Recreational Products |
|
2,000 |
|
|
Subsidiary |
Bekasi |
Indonesia |
Recreational Products |
|
2,000 |
|
|
Subsidiary |
Hamamatsu, Shizuoka |
Japan |
Recreational Activities |
|
1,000 |
|
|
Subsidiary |
Rellingen, Schleswig-Holstein |
Germany |
Recreational Products |
694.6 |
808 |
|
|
Subsidiary |
Jakarta |
Indonesia |
Recreational Products |
|
800 |
|
|
Subsidiary |
Rellingen |
Germany |
Recreational Products |
701.3 |
780 |
|
|
Subsidiary |
Ipoh, Perak |
Malaysia |
Audio and Video Equipment |
115.0 |
765 |
|
|
Subsidiary |
Zhejiang |
China |
Recreational Products |
|
500 |
|
|
Subsidiary |
Moscow |
Russian Federation |
Recreational Products |
30.8 |
459 |
|
|
Subsidiary |
Buena Park, CA |
United States |
Recreational Products |
|
450 |
|
|
Subsidiary |
Kilgore, TX |
United States |
Recreational Products |
|
150 |
|
|
Subsidiary |
Buena Park, CA |
United States |
Appliance and Tool |
25.7 |
50 |
|
|
Subsidiary |
Buena Park, CA |
United States |
Recreational Products |
|
5 |
|
|
Subsidiary |
New York, NY |
United States |
Recreational Products |
0.8 |
4 |
|
|
Branch |
Buena Park, CA |
United States |
Schools |
|
4 |
|
|
Subsidiary |
Grand Rapids, MI |
United States |
Recreational Products |
|
|
|
|
Subsidiary |
New York, NY |
United States |
Recreational Products |
|
3 |
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Capital Goods |
53.1 |
400 |
|
|
Subsidiary |
Hamamatsu, Shizuoka |
Japan |
Appliance and Tool |
193.4 |
378 |
|
|
Yamaha Fine
Technologies Co., Ltd. - Automotive Component Division |
Division |
Hamamatsu |
Japan |
Auto and Truck Parts |
|
|
|
Yamaha Fine
Technologies Co., Ltd. - Factory Automation Division |
Division |
Hamamatsu, Shizuoka |
Japan |
Appliance and Tool |
|
|
|
Subsidiary |
Shanghai |
China |
Miscellaneous Capital Goods |
|
200 |
|
|
Subsidiary |
Suzhou, Jiangsu Province |
China |
Audio and Video Equipment |
|
200 |
|
|
Subsidiary |
Milton Keynes |
United Kingdom |
Miscellaneous Capital Goods |
108.9 |
184 |
|
|
Subsidiary |
Vienna |
Austria |
Recreational Products |
15.4 |
180 |
|
|
Subsidiary |
Lungtan Hsiang, Taoyuan Hsien |
Taiwan |
Recreational Products |
|
180 |
|
|
Subsidiary |
Iwata, Shizuoka |
Japan |
Business Services |
|
150 |
|
|
Subsidiary |
Hamamatsu, Shizuoka |
Japan |
Business Services |
|
149 |
|
|
Subsidiary |
Tokyo |
Japan |
Audio and Video Equipment |
|
140 |
|
|
Subsidiary |
Petaling Jaya, Selangor |
Malaysia |
Miscellaneous Capital Goods |
19.4 |
100 |
|
|
Subsidiary |
Jakarta |
Indonesia |
Miscellaneous Capital Goods |
|
100 |
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Miscellaneous Capital Goods |
77.8 |
96 |
|
|
Subsidiary |
Scarborough, ON |
Canada |
Miscellaneous Capital Goods |
100.6 |
90 |
|
|
Subsidiary |
Tokyo |
Japan |
Recreational Products |
57.5 |
90 |
|
|
Yamaha
Music Trading Corporation - Musician Support Goods Division |
Division |
Tokyo |
Japan |
Recreational Products |
|
|
|
Yamaha
Music Trading Corporation - Wind & Educational Instruments Division |
Division |
Tokyo |
Japan |
Recreational Products |
|
|
|
Division |
Tokyo |
Japan |
Recreational Products |
|
|
|
|
Yamaha
Music Trading Corporation - VISCOUNT & Wenger Division |
Division |
Tokyo |
Japan |
Recreational Products |
|
|
|
Division |
Tokyo |
Japan |
Recreational Products |
|
|
|
|
Subsidiary |
Hamburg, Hamburg |
Germany |
Audio and Video Equipment |
21.0 |
85 |
|
|
Subsidiary |
Southbank, VIC |
Australia |
Miscellaneous Capital Goods |
67.3 |
75 |
|
|
Subsidiary |
Taipei |
Taiwan |
Miscellaneous Capital Goods |
6.0 |
75 |
|
|
Subsidiary |
Göteborg |
Sweden |
Appliance and Tool |
55.2 |
55 |
|
|
Subsidiary |
Lainate, Milan |
Italy |
Miscellaneous Capital Goods |
|
54 |
|
|
Subsidiary |
Gurgaon, Haryana |
India |
Miscellaneous Capital Goods |
|
40 |
|
|
Subsidiary |
Dubai |
United Arab Emirates |
Miscellaneous Capital Goods |
|
35 |
|
|
Subsidiary |
London |
United Kingdom |
Recreational Products |
|
35 |
|
|
Subsidiary |
Sao Paulo |
Brazil |
Miscellaneous Capital Goods |
|
30 |
|
|
Subsidiary |
Tokyo |
Japan |
Printing and Publishing |
|
25 |
|
|
Subsidiary |
Panama |
Panama |
Miscellaneous Capital Goods |
|
23 |
|
|
Subsidiary |
Watford |
United Kingdom |
Motion Pictures |
|
15 |
|
|
Subsidiary |
Buenos Aires |
Argentina |
Miscellaneous Capital Goods |
|
13 |
|
|
Subsidiary |
Neu-Isenburg |
Germany |
Recreational Products |
|
6 |
|
|
Subsidiary |
Buena Park, CA |
United States |
Recreational Products |
|
5 |
|
|
Subsidiary |
Tokyo |
Japan |
Motion Pictures |
|
4 |
|
|
Subsidiary |
Paris |
France |
Retail (Specialty) |
|
4 |
|
|
Subsidiary |
London |
United Kingdom |
Business Services |
|
2 |
|
|
Subsidiary |
Bangkok |
Thailand |
Retail (Specialty) |
|
|
|
|
Subsidiary |
Tianjin |
China |
Recreational Products |
|
|
|
|
Subsidiary |
Mexico |
Mexico |
Retail (Specialty) |
|
|
|
|
Subsidiary |
Jakarta |
Indonesia |
Recreational Products |
|
|
|
|
Subsidiary |
Guangzhou |
China |
Recreational Products |
|
|
|
|
Subsidiary |
Beijing |
China |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Pasuruan, Jawa Timur |
Indonesia |
Recreational Products |
|
|
|
|
Subsidiary |
Sao Paulo, Sao Paulo |
Brazil |
Retail (Specialty) |
|
|
|
|
Subsidiary |
Taipei |
Taiwan |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Business Services |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Software and Programming |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Motion Pictures |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Recreational Activities |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Printing and Publishing |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Recreational Activities |
|
|
|
|
Subsidiary |
Kakegawa, Shizuoka |
Japan |
Recreational Products |
|
|
|
|
Subsidiary |
Fukuroi, Shizuoka |
Japan |
Audio and Video Equipment |
|
|
|
|
Subsidiary |
Hirakata, Osaka |
Japan |
Audio and Video Equipment |
|
|
|
|
Subsidiary |
Iwata, Shizuoka |
Japan |
Recreational Products |
|
|
|
|
Subsidiary |
Hamamatsu, Shizuoka |
Japan |
Retail (Specialty) |
|
|
|
|
Subsidiary |
Hamamatsu, Shizuoka |
Japan |
Personal Services |
|
|
|
|
Subsidiary |
Hamamatsu, Shizuoka |
Japan |
Business Services |
|
|
|
|
Subsidiary |
Nagoya, Aichi |
Japan |
Recreational Activities |
|
|
|
|
Subsidiary |
Toyonaka, Osaka |
Japan |
Recreational Activities |
|
|
|
|
Subsidiary |
Hiroshima |
Japan |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Fukuoka |
Japan |
Recreational Activities |
|
|
|
|
Subsidiary |
Kagoshima |
Japan |
Semiconductors |
|
|
|
|
Subsidiary |
Sapporo, Hokkaido |
Japan |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Sendai, Miyagi |
Japan |
Recreational Activities |
|
|
|
|
Subsidiary |
Niigata |
Japan |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Kitaakita, Akita |
Japan |
Recreational Products |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Recreational Activities |
|
|
|
|
Subsidiary |
Hamamatsu, Shizuoka |
Japan |
Recreational Products |
|
|
|
|
Subsidiary |
Madrid |
Spain |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Wanchai |
Hong Kong |
Rental and Leasing |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Recreational Products |
|
|
|
|
Subsidiary |
Mombetsu, Hokkaido |
Japan |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Kakegawa, Shizuoka |
Japan |
Hotels and Motels |
|
|
|
|
Subsidiary |
Hamamatsu, Shizuoka |
Japan |
Business Services |
|
|
|
|
Subsidiary |
Rellingen |
Germany |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Hamamatsu, Shizuoka |
Japan |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Hamamatsu, Shizuoka |
Japan |
Recreational Products |
|
|
|
|
Subsidiary |
Shanghai |
China |
Recreational Activities |
|
|
|
|
Subsidiary |
Hamamatsu, Shizuoka |
Japan |
Rental and Leasing |
|
|
|
|
Subsidiary |
Moscow |
Russian Federation |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Fukui |
Japan |
Retail (Specialty) |
|
|
Competitors
Report
|
Company Name |
Location |
Employees |
Ownership |
|
AB Volvo |
Goteborg, Sweden |
98,717 |
Public |
|
Adept Technology Inc |
Pleasanton, California, United States |
183 |
Public |
|
American Honda Motor Co., Inc. |
Torrance, California, United States |
26,000 |
Private |
|
Arctic Cat Inc |
Thief River Falls, Minnesota, United States |
1,369 |
Public |
|
Bajaj Auto Ltd. |
Pune, India |
8,627 |
Public |
|
Bayerische Motoren Werke AG |
Muenchen, Germany |
105,876 |
Public |
|
Brunswick Corporation |
Lake Forest, Illinois, United States |
16,177 |
Public |
|
Harley-Davidson, Inc. |
Milwaukee, Wisconsin, United States |
5,800 |
Public |
|
Kawasaki Heavy Industries, Ltd. |
Kobe-Shi, Japan |
33,267 |
Public |
|
Marine Products Corp. |
Atlanta, Georgia, United States |
590 |
Public |
|
Norton Motorcycles (Uk) Ltd. |
Derby, United Kingdom |
|
Private |
|
Piaggio & C. SpA |
Pontedera, Italy |
8,626 |
Public |
|
SUZUKI MOTOR CORPORATION |
Hamamatsu-Shi, Japan |
54,484 |
Public |
|
Triumph Motorcycles Ltd. |
Hinckley, United Kingdom |
478 |
Private |
|
Viper Motorcycle Company |
Hopkins, Minnesota, United States |
|
Private |
Executive report
|
|
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Significant Developments
R&I Affirms Yamaha Motor Co., Ltd.'s Rating at "A-"; Rating Outlook Stable Apr 02, 2013
Rating and Investment Information, Inc. (R&I) announced that it has affirmed the rating on Yamaha Motor Co., Ltd. at "A-". The rating outlook is stable.
Yamaha Motor Co., Ltd. Lowers Consolidated Full-year Outlook for FY 2012 Aug 07, 2012
Yamaha Motor Co., Ltd. announced that it has lowered the consolidated full-year outlook for revenue from JPY 1,400,000 million to JPY 1,200,000 million, operating profit from JPY 45,000 million to JPY 28,000 million, ordinary profit from JPY 47,000 million to JPY 34,000 million, but has reaffirmed the full-year outlook for net profit at JPY 17,000 million and earning per share at JPY 48.70 for the fiscal year ending December 31, 2012. The negative outlook for revenue, operating profit and ordinary profit is mainly due to reduction of sales.
Annual
Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-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) |
79.797487 |
79.698224 |
87.789317 |
93.619712 |
103.395546 |
|
Auditor |
Ernst &
Young ShinNihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst & Young
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
15,134.2 |
16,012.4 |
14,741.3 |
12,322.6 |
15,512.1 |
|
Revenue |
15,134.2 |
16,012.4 |
14,741.3 |
12,322.6 |
15,512.1 |
|
Total Revenue |
15,134.2 |
16,012.4 |
14,741.3 |
12,322.6 |
15,512.1 |
|
|
|
|
|
|
|
|
Cost of Revenue |
12,188.4 |
12,548.7 |
11,374.6 |
10,161.9 |
11,864.9 |
|
Cost of Revenue, Total |
12,188.4 |
12,548.7 |
11,374.6 |
10,161.9 |
11,864.9 |
|
Gross Profit |
2,945.8 |
3,463.6 |
3,366.8 |
2,160.8 |
3,647.2 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
1,758.2 |
1,818.8 |
1,893.8 |
1,544.4 |
1,668.7 |
|
Labor & Related Expense |
954.6 |
974.7 |
888.5 |
849.2 |
875.6 |
|
Advertising Expense |
- |
- |
- |
435.6 |
634.9 |
|
Total Selling/General/Administrative Expenses |
2,712.7 |
2,793.5 |
2,782.3 |
2,829.2 |
3,179.3 |
|
Restructuring Charge |
- |
- |
0.0 |
1,108.0 |
0.0 |
|
Impairment-Assets Held for Use |
14.1 |
9.7 |
75.5 |
2.6 |
2.0 |
|
Impairment-Assets Held for Sale |
-7.2 |
-4.3 |
3.7 |
32.6 |
147.1 |
|
Other Unusual Expense (Income) |
0.0 |
10.9 |
0.4 |
0.0 |
0.0 |
|
Unusual Expense (Income) |
6.9 |
16.3 |
79.5 |
1,143.2 |
149.1 |
|
Total Operating Expense |
14,908.1 |
15,358.6 |
14,236.4 |
14,134.3 |
15,193.3 |
|
|
|
|
|
|
|
|
Operating Income |
226.1 |
653.8 |
504.9 |
-1,811.6 |
318.8 |
|
|
|
|
|
|
|
|
Interest Expense - Non-Operating |
-83.8 |
-85.5 |
-91.4 |
-106.6 |
-78.6 |
|
Interest Expense, Net Non-Operating |
-83.8 |
-85.5 |
-91.4 |
-106.6 |
-78.6 |
|
Interest Income -
Non-Operating |
74.4 |
104.4 |
99.5 |
89.4 |
126.5 |
|
Investment Income - Non-Operating |
14.8 |
6.6 |
83.1 |
-1.4 |
-11.5 |
|
Interest/Investment Income - Non-Operating |
89.1 |
111.0 |
182.6 |
88.0 |
115.0 |
|
Interest Income (Expense) - Net Non-Operating Total |
5.3 |
25.5 |
91.2 |
-18.6 |
36.4 |
|
Gain (Loss) on Sale of Assets |
-9.5 |
-7.0 |
-6.4 |
-14.4 |
-28.9 |
|
Other Non-Operating Income (Expense) |
101.8 |
95.7 |
81.8 |
-10.4 |
49.1 |
|
Other, Net |
101.8 |
95.7 |
81.8 |
-10.4 |
49.1 |
|
Income Before Tax |
323.7 |
768.0 |
671.5 |
-1,855.0 |
375.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
175.6 |
337.2 |
362.2 |
419.3 |
306.1 |
|
Income After Tax |
148.1 |
430.8 |
309.3 |
-2,274.4 |
69.3 |
|
|
|
|
|
|
|
|
Minority Interest |
-54.2 |
-92.5 |
-100.8 |
-34.4 |
-51.4 |
|
Net Income Before Extraord Items |
93.9 |
338.3 |
208.5 |
-2,308.8 |
17.9 |
|
Net Income |
93.9 |
338.3 |
208.5 |
-2,308.8 |
17.9 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
93.9 |
338.3 |
208.5 |
-2,308.8 |
17.9 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
93.9 |
338.3 |
208.5 |
-2,308.8 |
17.9 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
349.1 |
349.1 |
329.7 |
285.9 |
286.3 |
|
Basic EPS Excl Extraord Items |
0.27 |
0.97 |
0.63 |
-8.07 |
0.06 |
|
Basic/Primary EPS Incl Extraord Items |
0.27 |
0.97 |
0.63 |
-8.07 |
0.06 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
93.9 |
338.3 |
208.5 |
-2,308.8 |
17.9 |
|
Diluted Weighted Average Shares |
349.1 |
349.1 |
329.7 |
285.9 |
286.4 |
|
Diluted EPS Excl Extraord Items |
0.27 |
0.97 |
0.63 |
-8.07 |
0.06 |
|
Diluted EPS Incl Extraord Items |
0.27 |
0.97 |
0.63 |
-8.07 |
0.06 |
|
Dividends per Share - Common Stock Primary Issue |
0.13 |
0.19 |
0.00 |
0.00 |
0.25 |
|
Gross Dividends - Common Stock |
43.7 |
67.9 |
0.0 |
0.0 |
70.6 |
|
Interest Expense, Supplemental |
83.8 |
85.5 |
91.4 |
106.6 |
78.6 |
|
Depreciation, Supplemental |
429.6 |
421.3 |
416.8 |
573.6 |
576.5 |
|
Total Special Items |
16.5 |
23.4 |
86.0 |
1,157.6 |
178.0 |
|
Normalized Income Before Tax |
340.2 |
791.3 |
757.4 |
-697.4 |
553.5 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
8.9 |
10.3 |
46.4 |
405.2 |
62.3 |
|
Inc Tax Ex Impact of Sp Items |
184.6 |
347.4 |
408.6 |
824.5 |
368.4 |
|
Normalized Income After Tax |
155.6 |
443.9 |
348.9 |
-1,521.9 |
185.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
101.4 |
351.4 |
248.0 |
-1,556.3 |
133.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.29 |
1.01 |
0.75 |
-5.44 |
0.47 |
|
Diluted Normalized EPS |
0.29 |
1.01 |
0.75 |
-5.44 |
0.47 |
|
Amort of Acquisition Costs, Supplemental |
- |
- |
- |
0.0 |
0.0 |
|
Advertising Expense, Supplemental |
- |
- |
- |
435.6 |
634.9 |
|
Research & Development Exp, Supplemental |
873.6 |
815.8 |
628.6 |
663.0 |
823.0 |
|
Reported Operating Profit |
233.1 |
670.1 |
584.4 |
-668.4 |
467.9 |
|
Reported Ordinary Profit |
341.7 |
796.7 |
753.4 |
-730.0 |
569.4 |
|
Normalized EBIT |
233.1 |
670.1 |
584.5 |
-668.4 |
467.9 |
|
Normalized EBITDA |
662.6 |
1,091.4 |
1,001.3 |
-94.8 |
1,044.4 |
|
Current Tax - Total |
200.3 |
- |
- |
- |
- |
|
Current Tax - Total |
200.3 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-24.7 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-24.7 |
- |
- |
- |
- |
|
Income Tax - Total |
175.6 |
- |
- |
- |
- |
|
Interest Cost - Domestic |
47.8 |
47.9 |
40.5 |
38.8 |
35.6 |
|
Service Cost - Domestic |
77.5 |
82.1 |
74.6 |
74.9 |
63.7 |
|
Prior Service Cost - Domestic |
-3.9 |
-1.8 |
3.2 |
-2.2 |
-1.6 |
|
Expected Return on Assets - Domestic |
-31.4 |
-30.3 |
-33.8 |
-28.5 |
-29.6 |
|
Actuarial Gains and Losses - Domestic |
27.3 |
51.9 |
46.5 |
36.6 |
20.9 |
|
Domestic Pension Plan Expense |
117.2 |
149.8 |
131.1 |
119.5 |
89.1 |
|
Defined Contribution Expense - Domestic |
- |
7.2 |
6.3 |
7.4 |
8.4 |
|
Total Pension Expense |
117.2 |
157.0 |
137.4 |
126.9 |
97.5 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
2.50% |
2.50% |
3.00% |
2.50% |
2.50% |
|
Total Plan Interest Cost |
47.8 |
47.9 |
40.5 |
38.8 |
35.6 |
|
Total Plan Service Cost |
77.5 |
82.1 |
74.6 |
74.9 |
63.7 |
|
Total Plan Expected Return |
-31.4 |
-30.3 |
-33.8 |
-28.5 |
-29.6 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
85.870003 |
76.94 |
81.105 |
93.095 |
90.65 |
|
Auditor |
Ernst &
Young ShinNihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
1,239.8 |
1,737.8 |
2,532.1 |
1,475.1 |
1,477.2 |
|
Cash and Short Term Investments |
1,239.8 |
1,737.8 |
2,532.1 |
1,475.1 |
1,477.2 |
|
Accounts Receivable -
Trade, Gross |
2,237.6 |
2,164.4 |
2,265.1 |
2,166.4 |
2,156.4 |
|
Provision for Doubtful
Accounts |
-82.4 |
-81.8 |
-92.5 |
-89.1 |
-60.8 |
|
Trade Accounts Receivable - Net |
2,155.2 |
2,082.6 |
2,172.6 |
2,077.4 |
2,095.6 |
|
Total Receivables, Net |
2,155.2 |
2,082.6 |
2,172.6 |
2,077.4 |
2,095.6 |
|
Inventories - Finished Goods |
1,783.0 |
1,744.4 |
1,680.6 |
1,583.1 |
2,541.4 |
|
Inventories - Work In Progress |
470.9 |
519.5 |
461.4 |
459.2 |
541.9 |
|
Inventories - Raw Materials |
464.4 |
511.7 |
492.0 |
358.8 |
434.6 |
|
Total Inventory |
2,718.4 |
2,775.6 |
2,634.0 |
2,401.1 |
3,517.9 |
|
Deferred Income Tax - Current Asset |
- |
- |
0.0 |
35.2 |
275.3 |
|
Other Current Assets |
720.1 |
698.0 |
540.3 |
679.7 |
543.7 |
|
Other Current Assets, Total |
720.1 |
698.0 |
540.3 |
714.9 |
819.0 |
|
Total Current Assets |
6,833.6 |
7,294.0 |
7,879.0 |
6,668.4 |
7,909.7 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
3,178.5 |
3,228.9 |
3,086.4 |
2,959.9 |
3,922.7 |
|
Intangibles, Net |
45.9 |
45.1 |
52.4 |
51.6 |
65.9 |
|
LT Investment - Affiliate Companies |
239.1 |
245.4 |
229.1 |
204.8 |
- |
|
LT Investments - Other |
241.7 |
462.0 |
215.7 |
209.4 |
354.5 |
|
Long Term Investments |
480.8 |
707.4 |
444.8 |
414.2 |
354.5 |
|
Note Receivable - Long Term |
472.3 |
225.9 |
456.6 |
347.9 |
242.7 |
|
Deferred Income Tax - Long Term Asset |
- |
- |
0.0 |
61.3 |
286.1 |
|
Other Long Term Assets |
195.7 |
201.5 |
143.4 |
99.4 |
49.7 |
|
Other Long Term Assets, Total |
195.7 |
201.5 |
143.4 |
160.7 |
335.8 |
|
Total Assets |
11,206.8 |
11,702.8 |
12,062.5 |
10,602.8 |
12,831.3 |
|
|
|
|
|
|
|
|
Accounts Payable |
1,331.6 |
1,585.3 |
1,551.2 |
1,183.2 |
1,751.4 |
|
Accrued Expenses |
107.5 |
120.8 |
108.5 |
86.5 |
106.9 |
|
Notes Payable/Short Term Debt |
1,193.4 |
557.8 |
437.1 |
940.7 |
2,518.9 |
|
Current Portion - Long Term Debt/Capital Leases |
677.3 |
907.9 |
716.1 |
331.5 |
247.5 |
|
Income Taxes Payable |
37.7 |
37.1 |
102.1 |
26.6 |
0.7 |
|
Other Payables |
- |
- |
0.0 |
529.9 |
510.0 |
|
Other Current Liabilities |
1,207.7 |
1,553.4 |
1,586.8 |
980.2 |
1,124.8 |
|
Other Current liabilities, Total |
1,245.4 |
1,590.5 |
1,688.9 |
1,536.7 |
1,635.5 |
|
Total Current Liabilities |
4,555.2 |
4,762.3 |
4,501.9 |
4,078.6 |
6,260.2 |
|
|
|
|
|
|
|
|
Long Term Debt |
1,937.1 |
2,110.8 |
2,828.6 |
3,028.1 |
1,085.8 |
|
Capital Lease Obligations |
- |
12.2 |
11.2 |
5.2 |
- |
|
Total Long Term Debt |
1,937.1 |
2,123.0 |
2,839.8 |
3,033.3 |
1,085.8 |
|
Total Debt |
3,807.8 |
3,588.7 |
3,993.0 |
4,305.5 |
3,852.2 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
71.1 |
79.8 |
86.4 |
75.4 |
139.3 |
|
Deferred Income Tax |
71.1 |
79.8 |
86.4 |
75.4 |
139.3 |
|
Minority Interest |
391.2 |
377.5 |
449.5 |
395.3 |
373.8 |
|
Reserves |
44.9 |
98.6 |
276.3 |
282.6 |
197.2 |
|
Pension Benefits - Underfunded |
513.5 |
514.8 |
436.8 |
374.9 |
348.2 |
|
Other Long Term Liabilities |
107.3 |
96.2 |
89.2 |
80.5 |
73.9 |
|
Other Liabilities, Total |
665.8 |
709.7 |
802.3 |
738.0 |
619.3 |
|
Total Liabilities |
7,620.4 |
8,052.3 |
8,679.9 |
8,320.5 |
8,478.4 |
|
|
|
|
|
|
|
|
Common Stock |
997.6 |
1,113.4 |
1,056.2 |
519.3 |
533.3 |
|
Common Stock |
997.6 |
1,113.4 |
1,056.2 |
519.3 |
533.3 |
|
Additional Paid-In Capital |
869.8 |
970.8 |
1,211.4 |
654.1 |
671.3 |
|
Retained Earnings (Accumulated Deficit) |
2,908.2 |
3,242.5 |
2,456.0 |
1,943.0 |
4,324.6 |
|
Treasury Stock - Common |
-8.0 |
-8.9 |
-8.4 |
-7.3 |
-2.0 |
|
Unrealized Gain (Loss) |
149.4 |
124.5 |
159.1 |
153.0 |
213.4 |
|
Translation Adjustment |
-1,330.6 |
-1,791.8 |
-1,491.6 |
-979.9 |
-1,387.7 |
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Other Equity, Total |
-1,330.5 |
-1,791.8 |
-1,491.6 |
-979.9 |
-1,387.7 |
|
Total Equity |
3,586.4 |
3,650.5 |
3,382.7 |
2,282.3 |
4,353.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
11,206.8 |
11,702.8 |
12,062.5 |
10,602.8 |
12,831.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
349.1 |
349.1 |
349.1 |
285.8 |
286.4 |
|
Total Common Shares Outstanding |
349.1 |
349.1 |
349.1 |
285.8 |
286.4 |
|
Treasury Shares - Common Stock Primary Issue |
0.7 |
0.7 |
0.7 |
0.7 |
0.1 |
|
Employees |
53,958 |
54,677 |
52,184 |
49,994 |
49,761 |
|
Number of Common Shareholders |
31,246 |
30,643 |
30,017 |
28,575 |
33,666 |
|
Total Long Term Debt, Supplemental |
2,614.4 |
3,012.8 |
3,538.5 |
3,355.4 |
1,333.3 |
|
Long Term Debt Maturing within 1 Year |
677.3 |
902.0 |
709.9 |
327.3 |
247.5 |
|
Long Term Debt Maturing in Year 2 |
798.2 |
1,007.5 |
1,208.7 |
646.4 |
559.7 |
|
Long Term Debt Maturing in Year 3 |
792.6 |
818.5 |
757.0 |
1,133.4 |
156.2 |
|
Long Term Debt Maturing in Year 4 |
223.6 |
143.1 |
602.0 |
483.3 |
0.1 |
|
Long Term Debt Maturing in Year 5 |
122.7 |
141.6 |
137.5 |
576.9 |
286.8 |
|
Long Term Debt Maturing in 2-3 Years |
1,590.8 |
1,826.0 |
1,965.7 |
1,779.8 |
715.9 |
|
Long Term Debt Maturing in 4-5 Years |
346.3 |
284.8 |
739.5 |
1,060.3 |
286.9 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.0 |
123.3 |
188.0 |
83.0 |
|
Total Capital Leases, Supplemental |
8.2 |
18.1 |
17.4 |
9.4 |
- |
|
Capital Lease Payments Due in Year 1 |
3.1 |
5.9 |
6.2 |
4.2 |
- |
|
Capital Lease Payments Due in Year 2 |
2.9 |
5.5 |
4.7 |
2.9 |
- |
|
Capital Lease Payments Due in Year 3 |
1.6 |
4.4 |
3.7 |
1.6 |
- |
|
Capital Lease Payments Due in Year 4 |
0.6 |
1.8 |
2.7 |
0.6 |
- |
|
Capital Lease Payments Due in Year 5 |
0.1 |
0.5 |
0.1 |
0.0 |
- |
|
Capital Lease Payments Due in 2-3 Years |
4.4 |
9.9 |
8.4 |
4.5 |
- |
|
Capital Lease Payments Due in 4-5 Years |
0.7 |
2.3 |
2.8 |
0.6 |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Pension Obligation - Domestic |
1,856.4 |
1,994.6 |
1,851.0 |
1,601.3 |
1,624.3 |
|
Plan Assets - Domestic |
1,198.9 |
1,237.6 |
1,197.6 |
1,046.5 |
1,069.6 |
|
Funded Status - Domestic |
-657.5 |
-757.0 |
-653.4 |
-554.8 |
-554.7 |
|
Total Funded Status |
-657.5 |
-757.0 |
-653.4 |
-554.8 |
-554.7 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
2.50% |
2.50% |
3.00% |
2.50% |
2.50% |
|
Prepaid Benefits - Domestic |
3.6 |
4.3 |
2.7 |
2.4 |
2.8 |
|
Accrued Liabilities - Domestic |
-513.5 |
-514.8 |
-436.8 |
-373.3 |
-346.2 |
|
Other Assets, Net - Domestic |
147.6 |
246.5 |
219.4 |
184.0 |
211.4 |
|
Net Assets Recognized on Balance Sheet |
-362.4 |
-264.0 |
-214.7 |
-186.8 |
-132.0 |
|
Total Plan Obligations |
1,856.4 |
1,994.6 |
1,851.0 |
1,601.3 |
1,624.3 |
|
Total Plan Assets |
1,198.9 |
1,237.6 |
1,197.6 |
1,046.5 |
1,069.6 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-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) |
79.797487 |
79.698224 |
87.789317 |
93.619712 |
103.395546 |
|
Auditor |
Ernst &
Young ShinNihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
323.7 |
768.0 |
671.5 |
-1,855.0 |
375.4 |
|
Depreciation |
429.6 |
421.3 |
416.8 |
573.6 |
576.5 |
|
Depreciation/Depletion |
429.6 |
421.3 |
416.8 |
573.6 |
576.5 |
|
Amortization of Acquisition Costs |
- |
- |
- |
0.0 |
0.0 |
|
Amortization |
- |
- |
- |
0.0 |
0.0 |
|
Unusual Items |
18.0 |
24.7 |
81.6 |
17.1 |
193.9 |
|
Equity in Net Earnings (Loss) |
-20.0 |
-40.4 |
-28.7 |
-20.4 |
-22.8 |
|
Other Non-Cash Items |
3.6 |
-151.7 |
-20.2 |
1,041.8 |
-53.3 |
|
Non-Cash Items |
1.5 |
-167.4 |
32.7 |
1,038.5 |
117.9 |
|
Accounts Receivable |
-87.9 |
12.0 |
-77.2 |
651.9 |
-79.2 |
|
Inventories |
-14.2 |
-140.9 |
-95.6 |
1,247.7 |
-734.7 |
|
Accounts Payable |
-228.5 |
71.1 |
254.9 |
-596.6 |
23.2 |
|
Other Operating Cash Flow |
-447.2 |
-546.0 |
-12.4 |
-268.5 |
-334.1 |
|
Changes in Working Capital |
-777.8 |
-603.8 |
69.7 |
1,034.4 |
-1,124.8 |
|
Cash from Operating Activities |
-23.0 |
418.2 |
1,190.7 |
791.4 |
-55.0 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-596.0 |
-533.9 |
-363.0 |
-510.4 |
-971.3 |
|
Capital Expenditures |
-596.0 |
-533.9 |
-363.0 |
-510.4 |
-971.3 |
|
Acquisition of Business |
-38.0 |
- |
- |
- |
- |
|
Sale of Business |
- |
0.0 |
2.8 |
0.0 |
- |
|
Sale of Fixed Assets |
20.5 |
15.5 |
23.3 |
76.8 |
29.8 |
|
Sale/Maturity of Investment |
90.8 |
72.0 |
34.0 |
8.0 |
191.8 |
|
Purchase of Investments |
-147.9 |
-125.1 |
-87.6 |
-53.6 |
-160.8 |
|
Other Investing Cash Flow |
30.4 |
-12.2 |
-38.2 |
-4.5 |
-52.3 |
|
Other Investing Cash Flow Items, Total |
-44.1 |
-49.8 |
-65.7 |
26.7 |
8.5 |
|
Cash from Investing Activities |
-640.1 |
-583.7 |
-428.7 |
-483.7 |
-962.7 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-92.9 |
-68.4 |
-78.4 |
-27.9 |
4.2 |
|
Financing Cash Flow Items |
-92.9 |
-68.4 |
-78.4 |
-27.9 |
4.2 |
|
Cash Dividends Paid - Common |
-89.7 |
- |
0.0 |
-15.3 |
-113.6 |
|
Total Cash Dividends Paid |
-89.7 |
- |
0.0 |
-15.3 |
-113.6 |
|
Sale/Issuance of
Common |
- |
0.0 |
850.3 |
0.0 |
0.8 |
|
Common Stock, Net |
0.0 |
0.0 |
850.3 |
-5.3 |
0.8 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
0.0 |
850.3 |
-5.3 |
0.8 |
|
Short Term Debt, Net |
657.4 |
129.7 |
-520.7 |
-2,296.7 |
864.7 |
|
Long Term Debt Issued |
1,121.7 |
269.4 |
247.4 |
2,236.1 |
823.8 |
|
Long Term Debt
Reduction |
-1,399.0 |
-982.1 |
-438.2 |
-233.0 |
-1.9 |
|
Long Term Debt, Net |
-277.3 |
-712.8 |
-190.8 |
2,003.1 |
821.9 |
|
Issuance (Retirement) of Debt, Net |
380.1 |
-583.1 |
-711.5 |
-293.5 |
1,686.7 |
|
Cash from Financing Activities |
197.5 |
-651.5 |
60.3 |
-342.0 |
1,578.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
126.5 |
-66.1 |
-63.8 |
64.8 |
-248.2 |
|
Net Change in Cash |
-339.1 |
-883.1 |
758.5 |
30.5 |
312.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,674.2 |
2,559.3 |
1,563.8 |
1,435.2 |
987.3 |
|
Net Cash - Ending Balance |
1,335.0 |
1,676.2 |
2,322.4 |
397.6 |
1,299.5 |
|
Cash Interest Paid |
87.7 |
84.0 |
98.1 |
118.8 |
77.1 |
|
Cash Taxes Paid |
305.6 |
412.5 |
112.2 |
57.2 |
421.9 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-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) |
79.797487 |
79.698224 |
87.789317 |
93.619712 |
103.395546 |
|
Auditor |
Ernst &
Young ShinNihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net sales |
15,134.2 |
16,012.4 |
14,741.3 |
12,322.6 |
15,512.1 |
|
Total Revenue |
15,134.2 |
16,012.4 |
14,741.3 |
12,322.6 |
15,512.1 |
|
|
|
|
|
|
|
|
Cost of sales |
12,188.4 |
12,548.7 |
11,374.6 |
10,161.9 |
11,864.9 |
|
Advertisement expense |
- |
- |
- |
234.0 |
324.4 |
|
Sales Promotion Exps. |
- |
- |
- |
201.6 |
310.5 |
|
Other SGA(1) |
1,283.7 |
- |
- |
- |
- |
|
Freight Exps. |
336.5 |
379.9 |
347.5 |
319.2 |
420.6 |
|
Reserve for product warranty |
124.0 |
143.4 |
176.3 |
72.3 |
129.8 |
|
Provision for Doubtful Accounts |
14.0 |
21.1 |
15.7 |
27.1 |
12.9 |
|
Allow. products liability for reparation |
- |
- |
- |
139.3 |
- |
|
Provision for Motorcycle Recycle |
- |
- |
- |
0.7 |
0.6 |
|
Payroll |
860.0 |
874.9 |
813.2 |
785.7 |
818.2 |
|
Allowance for bonus |
42.4 |
37.9 |
24.6 |
28.8 |
29.3 |
|
Prov. for retire. benefits reserve |
52.1 |
62.0 |
50.6 |
34.7 |
28.1 |
|
Reserve for officers retirement |
- |
- |
- |
- |
0.1 |
|
Other SGA |
- |
1,274.4 |
1,354.4 |
985.9 |
1,104.9 |
|
Other Unusual Expense (Income) |
0.0 |
- |
- |
- |
- |
|
SP Loss Impairment |
14.1 |
9.7 |
75.5 |
2.6 |
2.0 |
|
SP Marketable sec. impairment |
- |
- |
- |
0.0 |
163.0 |
|
SP L on adjust for account change |
0.0 |
6.9 |
0.0 |
- |
- |
|
Loss on cancellation of lease contracts |
- |
0.0 |
0.4 |
0.0 |
- |
|
SP Res. Liability for Product |
- |
- |
- |
- |
0.0 |
|
SP Loss on disaster |
0.0 |
4.0 |
0.0 |
- |
- |
|
SP Business structure improvement exp. |
- |
- |
0.0 |
1,108.0 |
0.0 |
|
SP Other Special Gain |
- |
- |
- |
- |
0.0 |
|
G on Revaluation of Sales Finance Assets |
-7.2 |
-4.3 |
0.0 |
0.0 |
-15.9 |
|
NOP L on val. selling finance assets |
- |
0.0 |
3.7 |
32.6 |
0.0 |
|
Total Operating Expense |
14,908.1 |
15,358.6 |
14,236.4 |
14,134.3 |
15,193.3 |
|
|
|
|
|
|
|
|
SP Gain Sale Asset |
3.1 |
4.1 |
6.2 |
3.9 |
8.0 |
|
Gain on change in equity |
5.8 |
- |
- |
- |
- |
|
SP Gain Sale Inv. Secs |
- |
0.0 |
0.4 |
0.0 |
0.0 |
|
Gain on transfer of business |
- |
0.0 |
1.2 |
0.0 |
- |
|
SP Loss Sale Asset |
-2.4 |
-1.9 |
-2.0 |
-5.7 |
0.0 |
|
SP Loss Disposal Asset |
-10.2 |
-9.2 |
-11.8 |
-12.7 |
-36.9 |
|
SP Loss Sale Inv. Secs |
-0.1 |
-1.0 |
0.0 |
-0.2 |
-0.1 |
|
NOP Interest Income |
74.4 |
104.4 |
99.5 |
89.4 |
126.5 |
|
NOP Dividend Income |
5.4 |
6.6 |
7.7 |
5.7 |
8.1 |
|
NOP Gain Inv.Equity |
20.0 |
40.4 |
28.7 |
20.4 |
22.8 |
|
NOP Exchange Gain |
- |
0.0 |
46.4 |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
0.0 |
- |
- |
- |
- |
|
Sales finance-related income |
39.1 |
- |
- |
- |
- |
|
NOP Other Non-Op Income |
106.1 |
143.1 |
148.9 |
132.9 |
115.4 |
|
NOP Interest Expense |
-83.8 |
-85.5 |
-91.4 |
-106.6 |
-78.6 |
|
NOP Early Retire.Bene. |
- |
- |
0.0 |
-0.4 |
-3.5 |
|
NOP Selling finance related |
- |
- |
0.0 |
-14.7 |
-13.1 |
|
NOP Exchange Loss |
-16.3 |
-39.4 |
0.0 |
-27.3 |
-42.4 |
|
NOP Other Non-Op Expense |
-43.5 |
-47.4 |
-67.1 |
-128.2 |
-49.6 |
|
Net Income Before Taxes |
323.7 |
768.0 |
671.5 |
-1,855.0 |
375.4 |
|
|
|
|
|
|
|
|
Income taxes-current |
175.6 |
337.2 |
362.2 |
419.3 |
306.1 |
|
Net Income After Taxes |
148.1 |
430.8 |
309.3 |
-2,274.4 |
69.3 |
|
|
|
|
|
|
|
|
Minority interests in income |
-54.2 |
-92.5 |
-100.8 |
-34.4 |
-51.4 |
|
Net Income Before Extra. Items |
93.9 |
338.3 |
208.5 |
-2,308.8 |
17.9 |
|
Net Income |
93.9 |
338.3 |
208.5 |
-2,308.8 |
17.9 |
|
|
|
|
|
|
|
|
Balancing Item - Net Income Including Af |
0.0 |
- |
- |
- |
- |
|
EPS Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
93.9 |
338.3 |
208.5 |
-2,308.8 |
17.9 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
93.9 |
338.3 |
208.5 |
-2,308.8 |
17.9 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
349.1 |
349.1 |
329.7 |
285.9 |
286.3 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.27 |
0.97 |
0.63 |
-8.07 |
0.06 |
|
Basic EPS Including ExtraOrdinary Item |
0.27 |
0.97 |
0.63 |
-8.07 |
0.06 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
93.9 |
338.3 |
208.5 |
-2,308.8 |
17.9 |
|
Diluted Weighted Average Shares |
349.1 |
349.1 |
329.7 |
285.9 |
286.4 |
|
Diluted EPS Excluding ExtraOrd Items |
0.27 |
0.97 |
0.63 |
-8.07 |
0.06 |
|
Diluted EPS Including ExtraOrd Items |
0.27 |
0.97 |
0.63 |
-8.07 |
0.06 |
|
DPS-Common Stock |
0.13 |
0.19 |
0.00 |
0.00 |
0.25 |
|
Gross Dividends - Common Stock |
43.7 |
67.9 |
0.0 |
0.0 |
70.6 |
|
Normalized Income Before Taxes |
340.2 |
791.3 |
757.4 |
-697.4 |
553.5 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
184.6 |
347.4 |
408.6 |
824.5 |
368.4 |
|
Normalized Income After Taxes |
155.6 |
443.9 |
348.9 |
-1,521.9 |
185.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
101.4 |
351.4 |
248.0 |
-1,556.3 |
133.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.29 |
1.01 |
0.75 |
-5.44 |
0.47 |
|
Diluted Normalized EPS |
0.29 |
1.01 |
0.75 |
-5.44 |
0.47 |
|
Interest Expense |
83.8 |
85.5 |
91.4 |
106.6 |
78.6 |
|
Amort of negative goodwill |
- |
- |
- |
0.0 |
0.0 |
|
Depreciation |
429.6 |
421.3 |
416.8 |
573.6 |
576.5 |
|
Sales Promotion Exps. |
- |
- |
- |
201.6 |
310.5 |
|
Advertisement expense |
- |
- |
- |
234.0 |
324.4 |
|
Total Research And Development Expense |
873.6 |
815.8 |
628.6 |
663.0 |
823.0 |
|
Income taxes-current |
200.3 |
- |
- |
- |
- |
|
Current Tax - Total |
200.3 |
- |
- |
- |
- |
|
Income taxes-deferred |
-24.7 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-24.7 |
- |
- |
- |
- |
|
Income Tax - Total |
175.6 |
- |
- |
- |
- |
|
Reported Operating Profit |
233.1 |
670.1 |
584.4 |
-668.4 |
467.9 |
|
Reported Ordinary Profit |
341.7 |
796.7 |
753.4 |
-730.0 |
569.4 |
|
Service Cost |
77.5 |
82.1 |
74.6 |
74.9 |
63.7 |
|
Interest Cost |
47.8 |
47.9 |
40.5 |
38.8 |
35.6 |
|
Expected Return on Plan Assets |
-31.4 |
-30.3 |
-33.8 |
-28.5 |
-29.6 |
|
Actuarial Gains and Losses |
27.3 |
51.9 |
46.5 |
36.6 |
20.9 |
|
Prior Service Cost |
-3.9 |
-1.8 |
3.2 |
-2.2 |
-1.6 |
|
Domestic Pension Plan Expense |
117.2 |
149.8 |
131.1 |
119.5 |
89.1 |
|
Defined Contribution Expense |
- |
7.2 |
6.3 |
7.4 |
8.4 |
|
Total Pension Expense |
117.2 |
157.0 |
137.4 |
126.9 |
97.5 |
|
Discount Rate(MIN)-Domestic |
2.00% |
- |
- |
- |
- |
|
Discount Rate |
- |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected return on assets(MIN)-Domestic |
2.50% |
- |
- |
- |
- |
|
Expected Rate of Return |
- |
2.50% |
3.00% |
2.50% |
2.50% |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
85.870003 |
76.94 |
81.105 |
93.095 |
90.65 |
|
Auditor |
Ernst &
Young ShinNihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & deposits |
1,239.8 |
1,737.8 |
2,532.1 |
1,475.1 |
1,477.2 |
|
Notes and accounts receivable-trade |
2,237.6 |
2,164.4 |
2,265.1 |
2,166.4 |
2,156.4 |
|
Inventories - merchand.&finished goods |
1,783.0 |
1,744.4 |
1,680.6 |
1,583.1 |
2,541.4 |
|
Inventories - work-in-process |
470.9 |
519.5 |
461.4 |
459.2 |
541.9 |
|
Inventories - raw materials&supplies |
464.4 |
511.7 |
492.0 |
358.8 |
434.6 |
|
Defer Tax Ass.Curr |
- |
- |
0.0 |
35.2 |
275.3 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other Current |
720.1 |
698.0 |
540.3 |
679.7 |
543.7 |
|
Doubtful Rcvbls. |
-82.4 |
-81.8 |
-92.5 |
-89.1 |
-60.8 |
|
Total current assets |
6,833.6 |
7,294.0 |
7,879.0 |
6,668.4 |
7,909.7 |
|
|
|
|
|
|
|
|
Other Property, plant and equipment |
0.0 |
- |
- |
- |
- |
|
Buildings and structures, net |
897.6 |
975.7 |
1,031.1 |
1,017.7 |
1,091.8 |
|
Machinery Equipment And Vehicles |
918.3 |
846.6 |
809.0 |
817.6 |
1,253.2 |
|
Land |
915.5 |
984.2 |
893.7 |
793.1 |
986.4 |
|
Const In Progres |
249.8 |
233.1 |
156.1 |
144.4 |
314.2 |
|
Other |
197.4 |
189.2 |
196.5 |
187.2 |
277.0 |
|
Intangible assets(1) |
45.9 |
- |
- |
- |
- |
|
Intangible assets |
- |
45.1 |
52.4 |
51.6 |
65.9 |
|
Other Investment Securities |
241.7 |
- |
- |
- |
- |
|
Inv. Securities |
- |
462.0 |
215.7 |
209.4 |
354.5 |
|
Long-term loans receivable |
472.3 |
225.9 |
456.6 |
347.9 |
242.7 |
|
Invt Secs Noncons, Asc, Affd Cos |
235.9 |
- |
- |
- |
- |
|
Invts in Capital Noncons, Ascd, Affd Cos |
3.2 |
- |
- |
- |
- |
|
Inv. Securities.affiliates&sub. |
- |
242.2 |
219.8 |
200.3 |
- |
|
Defer Tax Ass.LT |
- |
- |
0.0 |
61.3 |
286.1 |
|
Inv't partnership-nonconsol.affil.&sub. |
- |
3.2 |
9.3 |
4.6 |
- |
|
Other Investments and other assets |
212.6 |
- |
- |
- |
- |
|
Other Long Term Assets |
0.0 |
- |
- |
- |
- |
|
Investments and other assets |
- |
222.3 |
161.7 |
113.4 |
62.2 |
|
Doubtful Account |
-16.9 |
-20.7 |
-18.2 |
-14.0 |
-12.4 |
|
Adjustment |
- |
- |
-0.1 |
0.0 |
-0.1 |
|
Total Assets |
11,206.8 |
11,702.8 |
12,062.5 |
10,602.8 |
12,831.3 |
|
|
|
|
|
|
|
|
Notes and accounts payable-trade |
1,331.6 |
1,585.3 |
1,551.2 |
1,183.2 |
1,751.4 |
|
Short-term loans payable |
1,193.4 |
557.8 |
437.1 |
940.7 |
2,518.9 |
|
Current portion of long-term loans payab |
677.3 |
902.0 |
709.9 |
327.3 |
247.5 |
|
Lease |
- |
5.9 |
6.2 |
4.2 |
- |
|
Bonds (current) |
- |
- |
- |
0.0 |
0.0 |
|
Comm. Paper |
- |
- |
- |
- |
0.0 |
|
Other Payable |
- |
- |
0.0 |
529.9 |
510.0 |
|
IncomeTax Pybl |
37.7 |
37.1 |
102.1 |
26.6 |
0.7 |
|
Bonus Allowance |
107.5 |
120.8 |
108.5 |
86.5 |
106.9 |
|
Directors' Bonus Allowance |
- |
- |
- |
- |
0.0 |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Warranty Allowan |
232.4 |
326.4 |
349.6 |
240.6 |
301.6 |
|
Other provision |
12.8 |
14.8 |
13.4 |
9.9 |
0.0 |
|
Other Current Liabilities |
962.5 |
1,212.2 |
1,223.8 |
729.6 |
823.2 |
|
Total Current Liabilities |
4,555.2 |
4,762.3 |
4,501.9 |
4,078.6 |
6,260.2 |
|
|
|
|
|
|
|
|
Bonds |
- |
- |
- |
- |
0.0 |
|
Long-term loans payable |
1,937.1 |
2,110.8 |
2,828.6 |
3,028.1 |
1,085.8 |
|
Lease |
- |
12.2 |
11.2 |
5.2 |
- |
|
Total Long Term Debt |
1,937.1 |
2,123.0 |
2,839.8 |
3,033.3 |
1,085.8 |
|
|
|
|
|
|
|
|
Reval.Defer.Tax |
71.1 |
79.8 |
86.4 |
75.4 |
139.3 |
|
Res.Accrd.Retirm |
513.5 |
514.8 |
436.8 |
373.3 |
346.2 |
|
Res.Direc Retirmt |
- |
- |
0.0 |
1.7 |
2.0 |
|
Res.Product Liability |
41.2 |
81.4 |
257.5 |
265.5 |
184.9 |
|
Res.Recycle Bycycle |
- |
- |
0.0 |
12.7 |
12.4 |
|
Other provision |
3.7 |
17.3 |
18.9 |
4.4 |
0.0 |
|
Other Long Term Liabilities |
0.0 |
- |
- |
- |
- |
|
Other LT Liabs. |
107.3 |
96.2 |
89.2 |
80.5 |
73.9 |
|
Minority Int. |
391.2 |
377.5 |
449.5 |
395.3 |
373.8 |
|
Total Liabilities |
7,620.4 |
8,052.3 |
8,679.9 |
8,320.5 |
8,478.4 |
|
|
|
|
|
|
|
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Common Stock |
997.6 |
1,113.4 |
1,056.2 |
519.3 |
533.3 |
|
Capital surplus |
868.5 |
969.4 |
1,210.1 |
653.4 |
671.0 |
|
Retained earnings |
2,908.2 |
3,242.5 |
2,456.0 |
1,943.0 |
4,324.6 |
|
Treasury Stock |
-8.0 |
-8.9 |
-8.4 |
-7.3 |
-2.0 |
|
Valuation difference on available-for-sa |
21.5 |
-19.1 |
33.5 |
43.4 |
1.1 |
|
Deferred hedge gain/loss |
- |
- |
- |
0.0 |
22.0 |
|
Reval Land |
127.9 |
143.6 |
125.6 |
109.7 |
190.3 |
|
Currency Trans. |
-1,330.6 |
-1,791.8 |
-1,491.6 |
-979.9 |
-1,387.7 |
|
New Stock Subscription Right |
1.3 |
1.4 |
1.3 |
0.8 |
0.3 |
|
Total net assets |
3,586.4 |
3,650.5 |
3,382.7 |
2,282.3 |
4,353.0 |
|
|
|
|
|
|
|
|
Total liabilities and net assets |
11,206.8 |
11,702.8 |
12,062.5 |
10,602.8 |
12,831.4 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
349.1 |
349.1 |
349.1 |
285.8 |
286.4 |
|
Total Common Shares Outstanding |
349.1 |
349.1 |
349.1 |
285.8 |
286.4 |
|
T/S-Common Stock |
0.7 |
0.7 |
0.7 |
0.7 |
0.1 |
|
Full-Time Employees |
53,958 |
54,677 |
52,184 |
49,994 |
49,761 |
|
Total Number of Shareholders |
31,246 |
- |
- |
- |
- |
|
Number of Common Shareholders |
- |
30,643 |
30,017 |
28,575 |
33,666 |
|
LTD & Bond within 1 year |
677.3 |
902.0 |
709.9 |
327.3 |
247.5 |
|
Lns Pble Maturing over a Yr within 2 Yrs |
798.2 |
- |
- |
- |
- |
|
LTD & Bond from 1 to 2 year |
- |
1,007.5 |
1,208.7 |
646.4 |
559.7 |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
792.6 |
- |
- |
- |
- |
|
LTD & Bond from 2 to 3 year |
- |
818.5 |
757.0 |
1,133.4 |
156.2 |
|
Lns Pble Maturg over 3 Yrs within 4 Yrs |
223.6 |
- |
- |
- |
- |
|
LTD & Bond from 3 to 4 year |
- |
143.1 |
602.0 |
483.3 |
0.1 |
|
Lns Pble Maturg over 4 Yrs within 5 Yrs |
122.7 |
- |
- |
- |
- |
|
LTD & Bond from 4 to 5 year |
- |
141.6 |
137.5 |
576.9 |
286.8 |
|
LT loans payable remaing after 5 years |
0.0 |
- |
- |
- |
- |
|
LTD & Bond remaining |
- |
0.0 |
123.3 |
188.0 |
83.0 |
|
Total Long Term Debt, Supplemental |
2,614.4 |
3,012.8 |
3,538.5 |
3,355.4 |
1,333.3 |
|
Capital Lease Payments Due within 1 Year |
3.1 |
5.9 |
6.2 |
4.2 |
- |
|
Cap Lease Maturg over a Yr within 2 Yrs |
2.9 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 2 |
- |
5.5 |
4.7 |
2.9 |
- |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
1.6 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 3 |
- |
4.4 |
3.7 |
1.6 |
- |
|
Cap Lease Maturg over 3 Yr within 4 Yrs |
0.6 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 4 |
- |
1.8 |
2.7 |
0.6 |
- |
|
Cap Lease Maturg over 4 Yr within 5 Yrs |
0.1 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 5 |
- |
0.5 |
0.1 |
0.0 |
- |
|
Capital lease remaing after 5 years |
0.0 |
- |
- |
- |
- |
|
Capital Lease-Remaining Maturities |
- |
0.0 |
0.0 |
0.0 |
- |
|
Total Capital Leases |
8.2 |
18.1 |
17.4 |
9.4 |
- |
|
Pension Obligation |
1,856.4 |
1,994.6 |
1,851.0 |
1,601.3 |
1,624.3 |
|
Fair Value of Plan Assets |
1,198.9 |
1,237.6 |
1,197.6 |
1,046.5 |
1,069.6 |
|
Funded Status |
-657.5 |
-757.0 |
-653.4 |
-554.8 |
-554.7 |
|
Total Funded Status |
-657.5 |
-757.0 |
-653.4 |
-554.8 |
-554.7 |
|
Discount Rate |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return |
2.50% |
2.50% |
3.00% |
2.50% |
2.50% |
|
Unrecognized Actuarial Gains and Losses |
142.7 |
249.7 |
225.6 |
200.3 |
226.4 |
|
Unrecognized Prior Service Cost |
4.9 |
-3.2 |
-6.3 |
-16.2 |
-15.0 |
|
Prepaid Pension Benefits |
3.6 |
4.3 |
2.7 |
2.4 |
2.8 |
|
Reserve for Accrued Retirement Benefits |
-513.5 |
-514.8 |
-436.8 |
-373.3 |
-346.2 |
|
Net Assets Recognized on Balance Sheet |
-362.4 |
-264.0 |
-214.7 |
-186.8 |
-132.0 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-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) |
79.797487 |
79.698224 |
87.789317 |
93.619712 |
103.395546 |
|
Auditor |
Ernst &
Young ShinNihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Income before income taxes |
323.7 |
768.0 |
671.5 |
-1,855.0 |
375.4 |
|
Depreciation |
429.6 |
421.3 |
416.8 |
573.6 |
576.5 |
|
Loss (gain) on change in equity |
-5.8 |
- |
- |
- |
- |
|
Impairment Loss |
14.1 |
9.7 |
75.5 |
2.6 |
2.0 |
|
Business structure improvement expenses |
- |
- |
0.0 |
884.6 |
0.0 |
|
Loss (gain) on transfer of business |
- |
0.0 |
-1.2 |
0.0 |
- |
|
Marketable sec. impairment |
- |
- |
- |
0.0 |
163.0 |
|
Amort of Acquisition Costs |
- |
- |
- |
0.0 |
0.0 |
|
Increase (decrease) in allowance for dou |
-6.5 |
-5.8 |
3.0 |
25.7 |
6.1 |
|
Increase in Reserve for Retire. Benefits |
41.1 |
60.7 |
17.2 |
29.9 |
-11.2 |
|
Increase in accrual for product liabilit |
-35.0 |
-181.0 |
-24.7 |
88.3 |
0.0 |
|
Int.&Div Income |
-79.8 |
-111.0 |
-107.2 |
-95.1 |
-134.6 |
|
Interest Expense |
83.8 |
85.5 |
91.4 |
106.6 |
78.6 |
|
Exchange G/L |
- |
- |
0.0 |
1.6 |
0.4 |
|
Equity in (earnings) losses of affiliate |
-20.0 |
-40.4 |
-28.7 |
-20.4 |
-22.8 |
|
Loss (gain) on sales of property, plant |
-0.6 |
-2.2 |
-4.2 |
1.7 |
-8.0 |
|
Loss (gain) on disposal of property, pla |
10.2 |
9.2 |
11.8 |
12.7 |
36.9 |
|
Loss (gain) on sales of investment secur |
0.1 |
1.0 |
-0.3 |
0.1 |
0.0 |
|
Loss on adjustment for changes of accoun |
0.0 |
6.9 |
0.0 |
- |
- |
|
Decrease (increase) in notes and account |
-87.9 |
12.0 |
-77.2 |
651.9 |
-79.2 |
|
Decrease (increase) in inventories |
-14.2 |
-140.9 |
-95.6 |
1,247.7 |
-734.7 |
|
Increase (decrease) in notes and account |
-228.5 |
71.1 |
254.9 |
-596.6 |
23.2 |
|
Other Operating Cash Flow |
0.0 |
- |
- |
- |
- |
|
Increase In Cash And Cash Equivalents Fr |
6.9 |
- |
- |
- |
- |
|
Other, net |
-160.9 |
-179.0 |
70.2 |
-198.9 |
14.2 |
|
Int.Div.Received |
100.2 |
129.5 |
127.7 |
106.3 |
150.6 |
|
Interest Paid |
-87.7 |
-84.0 |
-98.1 |
-118.8 |
-77.1 |
|
Income taxes (paid) refund |
-305.6 |
-412.5 |
-112.2 |
-57.2 |
-421.9 |
|
Newly Consolidated |
- |
- |
- |
- |
8.3 |
|
Exclude Cons. Subs. |
- |
- |
- |
- |
-0.9 |
|
Net cash provided by (used in) operating |
-23.0 |
418.2 |
1,190.7 |
791.4 |
-55.0 |
|
|
|
|
|
|
|
|
Payments for sales of investments in sub |
-38.0 |
- |
- |
- |
- |
|
Time Deposit Made |
-4.4 |
-17.6 |
-37.0 |
-11.1 |
-89.4 |
|
Time Deposit Matured |
6.4 |
38.7 |
22.3 |
5.2 |
190.2 |
|
Purchase of property, plant and equipmen |
-596.0 |
-533.9 |
-363.0 |
-510.4 |
-971.3 |
|
Proceeds from sales of property, plant a |
20.5 |
15.5 |
23.3 |
76.8 |
29.8 |
|
Purch. Inv. Secs |
-14.4 |
-45.5 |
0.0 |
0.0 |
-36.5 |
|
Sale Inv. Secs |
0.0 |
0.1 |
0.6 |
0.6 |
0.9 |
|
Add Purch Subs |
- |
- |
- |
0.0 |
0.0 |
|
Sale Consol. Subs. Stock |
- |
- |
- |
- |
0.0 |
|
Payments of long-term loans receivable |
-129.1 |
-62.0 |
-50.5 |
-42.4 |
-34.9 |
|
Collection of long-term loans receivable |
84.5 |
33.2 |
11.1 |
2.2 |
0.8 |
|
Proceeds from transfer of business |
- |
0.0 |
2.8 |
0.0 |
- |
|
Other, net |
30.4 |
-12.2 |
-38.2 |
-4.5 |
-52.3 |
|
Net cash provided by (used in) investing |
-640.1 |
-583.7 |
-428.7 |
-483.7 |
-962.7 |
|
|
|
|
|
|
|
|
Increase (decrease) in short-term loans |
657.4 |
129.7 |
-520.7 |
-2,296.7 |
864.7 |
|
Proceeds from long-term loans payable |
1,121.7 |
269.4 |
247.4 |
2,236.1 |
823.8 |
|
Repayment of long-term loans payable |
-1,399.0 |
-982.1 |
-438.2 |
-232.9 |
-1.9 |
|
Redemption Bond |
- |
- |
0.0 |
0.0 |
0.0 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Proc.minorities' accep.capital inc. |
- |
- |
0.0 |
0.2 |
42.1 |
|
Stocks issued |
- |
0.0 |
850.3 |
0.0 |
- |
|
Cash Dividends Paid |
-89.7 |
- |
- |
- |
- |
|
Dividends Paid |
- |
- |
0.0 |
-15.3 |
-113.6 |
|
Div. to Minority |
-88.1 |
-61.8 |
-72.4 |
-21.5 |
-37.9 |
|
Decrease (increase) in treasury stock |
0.0 |
0.0 |
0.0 |
-5.3 |
0.0 |
|
Captial Increase |
- |
- |
- |
0.0 |
0.8 |
|
Other, net |
-4.7 |
-6.7 |
-6.0 |
-6.6 |
0.0 |
|
Net cash provided by (used in) financing |
197.5 |
-651.5 |
60.3 |
-342.0 |
1,578.2 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
126.5 |
-66.1 |
-63.8 |
64.8 |
-248.2 |
|
Net increase (decrease) in cash and cash |
-339.1 |
-883.1 |
758.5 |
30.5 |
312.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1,674.2 |
2,559.3 |
1,563.8 |
1,435.2 |
987.3 |
|
Net Cash - Ending Balance |
1,335.0 |
1,676.2 |
2,322.4 |
397.6 |
1,299.5 |
|
Cash Interest Paid |
87.7 |
84.0 |
98.1 |
118.8 |
77.1 |
|
Income taxes (paid) refund |
305.6 |
412.5 |
112.2 |
57.2 |
421.9 |
Financial
Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.30 |
|
UK Pound |
1 |
Rs.82.88 |
|
Euro |
1 |
Rs.70.80 |
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.