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Report Date : |
19.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
ALCONIX CORPORATION |
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Registered Office : |
12F, Sanno Park Tower 2-11-1, Nagata-cho Chiyoda-Ku, 100-6112 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
01.07.1981 |
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Legal Form : |
Public Parent |
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Line of Business : |
Subject is a distributor of various nonferrous metal
products. Light Metal and Copper Product segment supplies aluminum rolled
products, extrusions, castings, processed goods and parts, aluminum plate
materials, and copper rolled products |
|
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No. of Employees : |
698 |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
NOTES
:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
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.
Source : CIA
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ALCONIX CORPORATION
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ALCONIX CORPORATION is a distributor of various nonferrous metal products. Light Metal and Copper Product segment supplies aluminum rolled products, extrusions, castings, processed goods and parts, aluminum plate materials, and copper rolled products. Electronic and Functional Material segment offers semiconductors, printed circuit boards (PCBs), batteries, titanium products, nickel products, and various rare metals. Nonferrous Material segment provides secondary aluminum alloy ingots, metal scraps, metallic silicon, zinc alloy ingots and magnesium ingots. Construction and Industrial Material segment offers various plumbing equipment, copper alloy materials, aluminum die-casting products and molds, among others, it also involves in renovation business. In early March, 2013, it established a wholly owned subsidiary. On April 24, 2013, the Company acquired a Japan-based company. For the six months ended 30 September 2013, ALCONIX CORPORATION revenues increased less than 1% to Y88.94B. Net income applicable to common stockholders increased 77% to Y1.8B. Revenues reflect Light Metals And Copper Products Business segment increase of 15% to Y36.5B, Non-Ferrous Raw Materials Business segment increase of 31% to Y15.88B, also reflect Electron, Functional Material Business segment decrease of 19% to Y32.19B.
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Industry |
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ANZSIC 2006: |
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|
ISIC Rev 4: |
4652 - Wholesale of electronic and telecommunications equipment and parts |
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NACE Rev 2: |
4652 - Wholesale of electronic and telecommunications equipment and parts |
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NAICS 2012: |
42369 - Other Electronic Parts and Equipment Merchant Wholesalers |
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UK SIC 2007: |
4652 - Wholesale of electronic and telecommunications equipment and parts |
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US SIC 1987: |
5065 - Electronic Parts and Equipment, Not Elsewhere Classified |
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1 - Profit & Loss Item Exchange Rate: USD 1 = JPY
82.97047
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 94.08855
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ANZSIC 2006 Codes: |
||
|
3494 |
- |
Other Electrical and Electronic Goods Wholesaling |
|
3020 |
- |
Non-Residential Building Construction |
|
2469 |
- |
Other Specialised Machinery and Equipment Manufacturing |
|
3019 |
- |
Other Residential Building Construction |
|
3322 |
- |
Metal and Mineral Wholesaling |
|
ISIC Rev 4 Codes: |
||
|
4652 |
- |
Wholesale of electronic and telecommunications equipment and parts |
|
4100 |
- |
Construction of buildings |
|
2819 |
- |
Manufacture of other general-purpose machinery |
|
4669 |
- |
Wholesale of waste and scrap and other products n.e.c. |
|
4659 |
- |
Wholesale of other machinery and equipment |
|
4662 |
- |
Wholesale of metals and metal ores |
|
4663 |
- |
Wholesale of construction materials, hardware, plumbing and heating equipment and supplies |
|
NACE Rev 2 Codes: |
||
|
4652 |
- |
Wholesale of electronic and telecommunications equipment and parts |
|
4120 |
- |
Construction of buildings |
|
2829 |
- |
Manufacture of other general-purpose machinery n.e.c. |
|
4677 |
- |
Wholesale of waste and scrap |
|
4669 |
- |
Wholesale of other machinery and equipment |
|
4672 |
- |
Wholesale of metals and metal ores |
|
4674 |
- |
Wholesale of hardware, plumbing and heating equipment and supplies |
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NAICS 2012 Codes: |
||
|
42369 |
- |
Other Electronic Parts and Equipment Merchant Wholesalers |
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423720 |
- |
Plumbing and Heating Equipment and Supplies (Hydronics) Merchant Wholesalers |
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333249 |
- |
Other Industrial Machinery Manufacturing |
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423610 |
- |
Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers |
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423510 |
- |
Metal Service Centers and Other Metal Merchant Wholesalers |
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236220 |
- |
Commercial and Institutional Building Construction |
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236116 |
- |
New Multifamily Housing Construction (except For-Sale Builders) |
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423930 |
- |
Recyclable Material Merchant Wholesalers |
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US SIC 1987: |
||
|
5065 |
- |
Electronic Parts and Equipment, Not Elsewhere Classified |
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5074 |
- |
Plumbing and Heating Equipment and Supplies (Hydronics) |
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5063 |
- |
Electrical Apparatus and Equipment Wiring Supplies, and Construction Materials |
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3559 |
- |
Special Industry Machinery, Not Elsewhere Classified |
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5093 |
- |
Scrap and Waste Materials |
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1522 |
- |
General Contractors-Residential Buildings, Other Than Single-Family |
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1542 |
- |
General Contractors-Nonresidential Buildings, Other than Industrial Buildings and Warehouses |
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5051 |
- |
Metals Service Centers and Offices |
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UK SIC 2007: |
||
|
4652 |
- |
Wholesale of electronic and telecommunications equipment and parts |
|
41202 |
- |
Construction of domestic buildings |
|
2829 |
- |
Manufacture of other general-purpose machinery n.e.c. |
|
4677 |
- |
Wholesale of waste and scrap |
|
4669 |
- |
Wholesale of other machinery and equipment |
|
4672 |
- |
Wholesale of metals and metal ores |
|
4674 |
- |
Wholesale of hardware, plumbing and heating equipment and supplies |
ALCONIX CORPORATION is a distributor of various nonferrous metal products. Light Metal and Copper Product segment supplies aluminum rolled products, extrusions, castings, processed goods and parts, aluminum plate materials, and copper rolled products. Electronic and Functional Material segment offers semiconductors, printed circuit boards (PCBs), batteries, titanium products, nickel products, and various rare metals. Nonferrous Material segment provides secondary aluminum alloy ingots, metal scraps, metallic silicon, zinc alloy ingots and magnesium ingots. Construction and Industrial Material segment offers various plumbing equipment, copper alloy materials, aluminum die-casting products and molds, among others, it also involves in renovation business. In early March, 2013, it established a wholly owned subsidiary. On April 24, 2013, the Company acquired a Japan-based company. For the six months ended 30 September 2013, ALCONIX CORPORATION revenues increased less than 1% to Y88.94B. Net income applicable to common stockholders increased 77% to Y1.8B. Revenues reflect Light Metals And Copper Products Business segment increase of 15% to Y36.5B, Non-Ferrous Raw Materials Business segment increase of 31% to Y15.88B, also reflect Electron, Functional Material Business segment decrease of 19% to Y32.19B.
More Business Descriptions
Sale of aluminium and copper products
Aluminum, Copper, Nickel, Titanium, Tungsten, Molybdenum,
Rare Metal & Rare Earth Related Products Importer, Exporter & Sales
ALCONIX Corporation (ALCONIX) manufactures and markets metal products and electronic material through its subsidiaries. The group offers wide range of product portfolio include aluminum and copper products, nickel, titanium, tungsten, molybdenum as rare metal or rare earth related products. The group is involved in the production of flat, rolled and extruded aluminum products; copper tubes and copper alloy strips; titanium products; valves; semiconductors; batteries; magnets; and printed circuit boards for export and import purposes. It serves automotive, manufacturing and construction industries. ALCONIX group consists of five domestic consolidated subsidiaries, nine overseas consolidated subsidiaries, and four overseas affiliates.ALCONIX’s operations are categorized under two divisions: Traditional Business and High Growth Business.The Traditional Business division of the company consists of Light Metal and Copper Products segment; and Construction and Industrial Material segment. ALCONIX, through its Light Metal and Copper Product segment, provides aluminum products for home electric appliances, aircraft, and automobiles, aluminum plate, and copper and copper alloys for foils, and printing plate. Its product portfolio consists of aluminum plate materials, and copper and alloys, copper and copper alloys. The group exports its products to China, South Korea, Taiwan, Singapore, Malaysia, and the Middle East. The Construction and Industrial Material segment provides a diverse range of various piping equipment and materials such as valves, joints, flange gauges, copper alloy materials, cast metals, and aluminum die casting. It also offers metal fitting work for commercial and residential buildings, renewal, reform, and design, process work, and fabrication of building materials.The high-growth sectors tied mainly to information technology and environmental issues. The High Growth Business division comprises two sub-segments, namely, Electronic and Advanced Materials segment; and Non-ferrous Materials segment. Through Electronic and Advanced Material segment, the company markets rare metals called “the vitamins of industry, such as titanium, tungsten, molybdenum, gallium, indium and rare earth; high advanced materials that are fabricated products of rare metals. It also offers semiconductor peripheral materials; battery materials for nickel-metal hydride batteries; crystal materials for LEDs and lasers; and metal powders for automobile components and for condensers. This segment serves all these markets through importing raw material resources and exporting value-added materials and products. Its product base consists of compound materials related to be useful in semiconductors and electronics; and its titanium products find application in power generation plants, chemical plants, shipbuilding and others. Under Nonferrous Material segment, ALCONIX offers secondary aluminum alloy ingots, non-ferrous scrap, rare metal scrap, home appliance scrap, metal silicon, zinc alloy ingots, and magnesium ingots. The company expanded its recycling business in China.The company carries out business operations in Japan through a number of consolidated subsidiaries, namely, Advanced Material Japan Corporation, ALCONIX Sanshin Corporation, Hayashi Metal Corp., Ohkawa Corp., and ALCONIX Mitaka Corporation. In Japan, the group's investment companies are Sun Aluminium Ind, Ltd., Kitakata Light Metal Co., Ltd. and others.In overseas markets, the group's consolidated subsidiaries are ALCONIX USA, Inc; ALCONIX Hongkong Corp., Ltd; Alconix Logistics (Thailand) Ltd.; ALCONIX (Thailand) Ltd.; ALCONIX (Shanghai) Corp; ALCONIX Europe Gmbh; ALCONIX (Malaysia) Sdn. Bhd.; ALCONIX (Taiwan) Corporation and ALCONIX Diecast Suzhou Co., Ltd. In overseas, the group's investment companies are KITZ (Thailand)Ltd. (Thailand), Taiyuan Jinwei Magnesium Co.,Ltd.(China), and Others.The affiliated companies of ALCONIX in overseas markets are Winton International Industries Ltd. (British Virgin Islands); Tianjin Rihuan Recycled Resources Ltd. (China); and HANGJI CHUANGFU INVESTMENT LIMITED. The group’s overseas investment companies are KITZ (Thailand) Ltd., Taiyuan Jinwei Magnesium Co., Ltd. and others.
ALCONIX Corporation (ALCONIX) is a non-ferrous metal products manufacturing company, based in Japan. The company manufactures and markets various metal products and electronic materials. The product portfolio of ALCONIX consists of semiconductors, aluminium products, nickel, magnets, copper tubes and copper alloy strips, batteries, titanium products, printed circuit boards and valves. The company provides recycling services for non-ferrous metals, precious metals, metal scraps and polymers. It manufactures lithium ion and polymer batteries. ALCONIX provides product design, processing and installation services on aluminium products. The company through its subsidiaries operates in the US, Hong Kong, Thailand, Indonesia, China, Germany, Malaysia and Russia. ALCONIX is headquartered in Tokyo, Japan.The company reported revenues of (Yen) JPY 164,769.00 million during the fiscal year ended March 2013, a decrease of 25.34% from 2012. The operating profit of the company was JPY 2,984.00 million during the fiscal year 2013, a decrease of 35.83% from 2012. The net profit of the company was JPY 1,430.00 million during the fiscal year 2013, a decrease of 41.63% from 2012.
Nonferrous Metal (except Aluminum) Smelting and Refining
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Chiyoda-Ku |
Japan |
Electronics Wholesale |
1,985.9 |
698 |
|
|
Subsidiary |
Tokyo |
Japan |
Metal Products Manufacturing |
|
100 |
|
|
Subsidiary |
Tokyo, Minato-ku |
Japan |
Metal Products Manufacturing |
|
30 |
|
|
Subsidiary |
Osaka, Nishi-ku |
Japan |
Metals and Minerals Wholesale |
|
27 |
|
|
Subsidiary |
Shanghai |
China |
Metal Products Manufacturing |
|
15 |
|
|
Subsidiary |
Bangkok |
Thailand |
Metal Products Manufacturing |
|
11 |
|
|
Subsidiary |
Wanchai |
Hong Kong |
Metal Products Manufacturing |
|
10 |
|
|
Subsidiary |
Kuala Lumpur |
Malaysia |
Metal Products Manufacturing |
|
6 |
|
|
Subsidiary |
Düsseldorf, Nordrhein-Westfalen |
Germany |
Metal Products Manufacturing |
|
4 |
|
|
Subsidiary |
Taipei, Songshan |
Taiwan |
Metal Products Manufacturing |
|
3 |
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Metals and Minerals Wholesale |
422.8 |
|
|
|
Subsidiary |
Setagaya-Ku, Tokyo |
Japan |
Semiconductor and Other Electronic Component Manufacturing |
27.4 |
|
|
|
Subsidiary |
Tokyo, Minato-ku |
Japan |
Metal Products Manufacturing |
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Alconix
FY Grp Net Pft Y1.43B Vs
Y2.45B Pft Yr Earlier |
16-May-2013 |
|
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Alconix
9Mos Grp Net Pft Y1.40B
Vs Y2.56B Pft Yr Earlier |
13-Feb-2013 |
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|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
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) |
82.970472 |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
|
Auditor |
Ernst & Young ShinNihon LLC |
Ernst & Young ShinNihon LLC |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
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|
Net Sales |
1,985.9 |
2,795.1 |
1,843.6 |
1,174.9 |
1,646.4 |
|
Revenue |
1,985.9 |
2,795.1 |
1,843.6 |
1,174.9 |
1,646.4 |
|
Total Revenue |
1,985.9 |
2,795.1 |
1,843.6 |
1,174.9 |
1,646.4 |
|
|
|
|
|
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|
|
Cost of Revenue |
1,880.3 |
2,660.3 |
1,747.1 |
1,111.0 |
1,588.1 |
|
Cost of Revenue, Total |
1,880.3 |
2,660.3 |
1,747.1 |
1,111.0 |
1,588.1 |
|
Gross Profit |
105.6 |
134.8 |
96.5 |
63.8 |
58.3 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
29.0 |
32.4 |
25.2 |
19.5 |
19.8 |
|
Labor & Related Expense |
33.9 |
39.8 |
32.7 |
25.1 |
20.3 |
|
Total Selling/General/Administrative Expenses |
62.9 |
72.2 |
57.9 |
44.6 |
40.1 |
|
Research & Development |
- |
- |
- |
0.0 |
- |
|
Depreciation |
2.9 |
3.1 |
2.5 |
2.4 |
1.4 |
|
Amortization of Acquisition Costs |
0.1 |
0.2 |
0.1 |
0.3 |
0.4 |
|
Depreciation/Amortization |
3.1 |
3.2 |
2.7 |
2.7 |
1.8 |
|
Impairment-Assets Held for Use |
- |
- |
0.0 |
0.1 |
0.0 |
|
Impairment-Assets Held for Sale |
3.3 |
- |
0.3 |
0.8 |
9.2 |
|
Other Unusual Expense (Income) |
0.4 |
0.5 |
-4.8 |
-11.9 |
-0.8 |
|
Unusual Expense (Income) |
3.6 |
0.5 |
-4.5 |
-11.0 |
8.3 |
|
Other Operating Expense |
- |
0.0 |
- |
- |
- |
|
Other Operating Expenses, Total |
- |
0.0 |
- |
- |
- |
|
Total Operating Expense |
1,949.9 |
2,736.2 |
1,803.2 |
1,147.3 |
1,638.4 |
|
|
|
|
|
|
|
|
Operating Income |
36.0 |
58.9 |
40.4 |
27.5 |
8.0 |
|
|
|
|
|
|
|
|
Interest Expense - Non-Operating |
-2.9 |
-3.6 |
-3.0 |
-2.2 |
-2.1 |
|
Interest Expense, Net Non-Operating |
-2.9 |
-3.6 |
-3.0 |
-2.2 |
-2.1 |
|
Interest Income - Non-Operating |
0.2 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Investment Income - Non-Operating |
-1.6 |
1.2 |
2.2 |
1.4 |
0.9 |
|
Interest/Investment Income - Non-Operating |
-1.4 |
1.3 |
2.3 |
1.5 |
1.1 |
|
Interest Income (Expense) - Net Non-Operating Total |
-4.3 |
-2.2 |
-0.7 |
-0.7 |
-1.0 |
|
Gain (Loss) on Sale of Assets |
-0.5 |
-0.7 |
-0.9 |
-0.8 |
-1.5 |
|
Other Non-Operating Income (Expense) |
0.2 |
0.4 |
0.6 |
0.4 |
0.1 |
|
Other, Net |
0.2 |
0.4 |
0.6 |
0.4 |
0.1 |
|
Income Before Tax |
31.3 |
56.4 |
39.4 |
26.4 |
5.6 |
|
|
|
|
|
|
|
|
Total Income Tax |
13.3 |
23.9 |
16.5 |
6.9 |
3.5 |
|
Income After Tax |
18.0 |
32.5 |
22.8 |
19.6 |
2.2 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.7 |
-1.4 |
-0.7 |
-0.2 |
-0.3 |
|
Net Income Before Extraord Items |
17.2 |
31.0 |
22.2 |
19.4 |
1.8 |
|
Net Income |
17.2 |
31.0 |
22.2 |
19.4 |
1.8 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
- |
- |
0.0 |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
- |
- |
0.0 |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
17.2 |
31.0 |
22.2 |
19.4 |
1.8 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
17.2 |
31.0 |
22.2 |
19.4 |
1.8 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
6.4 |
6.4 |
5.6 |
5.3 |
5.3 |
|
Basic EPS Excl Extraord Items |
2.71 |
4.88 |
3.96 |
3.63 |
0.34 |
|
Basic/Primary EPS Incl Extraord Items |
2.71 |
4.88 |
3.96 |
3.63 |
0.34 |
|
Dilution Adjustment |
-0.1 |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
17.2 |
30.9 |
22.1 |
19.4 |
1.8 |
|
Diluted Weighted Average Shares |
6.4 |
6.4 |
5.6 |
5.3 |
5.3 |
|
Diluted EPS Excl Extraord Items |
2.70 |
4.86 |
3.95 |
3.63 |
0.33 |
|
Diluted EPS Incl Extraord Items |
2.70 |
4.86 |
3.95 |
3.63 |
0.33 |
|
Dividends per Share - Common Stock Primary Issue |
0.72 |
0.76 |
0.53 |
0.46 |
0.42 |
|
Gross Dividends - Common Stock |
4.6 |
4.8 |
3.7 |
2.4 |
2.3 |
|
Interest Expense, Supplemental |
2.9 |
3.6 |
3.0 |
2.2 |
2.1 |
|
Depreciation, Supplemental |
4.9 |
4.9 |
4.1 |
3.5 |
1.4 |
|
Total Special Items |
4.3 |
1.3 |
-3.5 |
-9.8 |
10.3 |
|
Normalized Income Before Tax |
35.6 |
57.7 |
35.9 |
16.6 |
15.9 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
1.8 |
0.5 |
-1.5 |
-2.6 |
3.4 |
|
Inc Tax Ex Impact of Sp Items |
15.1 |
24.4 |
15.0 |
4.2 |
6.9 |
|
Normalized Income After Tax |
20.5 |
33.3 |
20.9 |
12.4 |
9.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
19.8 |
31.8 |
20.2 |
12.2 |
8.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
3.11 |
5.01 |
3.61 |
2.28 |
1.62 |
|
Diluted Normalized EPS |
3.10 |
4.98 |
3.60 |
2.28 |
1.61 |
|
Amort of Acquisition Costs, Supplemental |
0.1 |
0.2 |
0.1 |
0.3 |
0.4 |
|
Rental Expenses |
3.2 |
3.2 |
2.6 |
2.4 |
2.2 |
|
Research & Development Exp, Supplemental |
- |
- |
- |
0.0 |
- |
|
Reported Operating Profit |
39.6 |
59.4 |
35.9 |
16.5 |
16.4 |
|
Reported Ordinary Profit |
34.9 |
57.0 |
34.6 |
15.1 |
15.7 |
|
Normalized EBIT |
39.6 |
59.4 |
35.9 |
16.5 |
16.4 |
|
Normalized EBITDA |
44.7 |
64.4 |
40.2 |
20.3 |
18.2 |
|
Current Tax - Total |
11.0 |
27.1 |
- |
- |
- |
|
Current Tax - Total |
11.0 |
27.1 |
- |
- |
- |
|
Deferred Tax - Total |
2.2 |
-3.2 |
- |
- |
- |
|
Deferred Tax - Total |
2.2 |
-3.2 |
- |
- |
- |
|
Income Tax - Total |
13.3 |
23.9 |
- |
- |
- |
|
Service Cost - Domestic |
1.2 |
1.2 |
1.3 |
0.6 |
0.5 |
|
Other Pension, Net - Domestic |
- |
0.1 |
0.1 |
0.1 |
0.0 |
|
Domestic Pension Plan Expense |
1.2 |
1.3 |
1.4 |
0.7 |
0.5 |
|
Other Pension, Net - Foreign |
0.9 |
- |
- |
- |
- |
|
Foreign Pension Plan Expense |
0.9 |
- |
- |
- |
- |
|
Defined Contribution Expense - Domestic |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Pension Expense |
2.2 |
1.3 |
1.4 |
0.7 |
0.6 |
|
Total Plan Service Cost |
1.2 |
1.2 |
1.3 |
0.6 |
0.5 |
|
Total Plan Other Expense |
0.9 |
0.1 |
0.1 |
0.1 |
0.0 |
|
|
|
Annual Balance Sheet |
|
Financials in: USD (mil) |
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
94.088557 |
82.385362 |
82.88 |
93.44 |
98.77 |
|
Auditor |
Ernst & Young ShinNihon LLC |
Ernst & Young ShinNihon LLC |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
117.8 |
128.7 |
100.6 |
59.0 |
66.9 |
|
Cash and Short Term Investments |
117.8 |
128.7 |
100.6 |
59.0 |
66.9 |
|
Accounts Receivable - Trade, Gross |
319.4 |
385.7 |
328.5 |
191.2 |
162.2 |
|
Provision for Doubtful Accounts |
-3.7 |
-3.1 |
-2.6 |
-1.9 |
-1.7 |
|
Trade Accounts Receivable - Net |
315.8 |
382.6 |
325.9 |
189.3 |
160.6 |
|
Other Receivables |
- |
- |
0.0 |
0.9 |
3.1 |
|
Total Receivables, Net |
315.8 |
382.6 |
325.9 |
190.2 |
163.7 |
|
Inventories - Finished Goods |
124.6 |
226.0 |
241.8 |
94.1 |
126.4 |
|
Inventories - Work In Progress |
4.1 |
0.7 |
0.5 |
0.2 |
0.0 |
|
Inventories - Raw Materials |
3.4 |
0.2 |
0.1 |
0.1 |
0.0 |
|
Total Inventory |
132.2 |
226.9 |
242.4 |
94.5 |
126.4 |
|
Deferred Income Tax - Current Asset |
4.8 |
7.8 |
5.4 |
2.4 |
3.3 |
|
Other Current Assets |
17.9 |
11.8 |
32.9 |
18.6 |
17.2 |
|
Other Current Assets, Total |
22.6 |
19.6 |
38.4 |
20.9 |
20.5 |
|
Total Current Assets |
588.3 |
757.9 |
707.4 |
364.6 |
377.6 |
|
|
|
|
|
|
|
|
Buildings |
20.0 |
14.9 |
13.1 |
11.5 |
1.0 |
|
Land/Improvements |
24.1 |
27.3 |
27.1 |
24.1 |
1.0 |
|
Machinery/Equipment |
35.4 |
25.3 |
21.7 |
18.7 |
1.8 |
|
Construction in Progress |
0.1 |
0.8 |
0.2 |
0.0 |
0.0 |
|
Property/Plant/Equipment - Gross |
79.6 |
68.3 |
62.1 |
54.3 |
3.7 |
|
Accumulated Depreciation |
-37.8 |
-29.2 |
-27.1 |
-22.3 |
-1.3 |
|
Property/Plant/Equipment - Net |
41.9 |
39.1 |
35.0 |
32.0 |
2.4 |
|
Goodwill, Net |
26.9 |
0.2 |
0.3 |
0.4 |
0.6 |
|
Intangibles, Net |
37.5 |
3.5 |
5.2 |
6.1 |
7.2 |
|
LT Investment - Affiliate Companies |
19.1 |
- |
0.7 |
- |
- |
|
LT Investments - Other |
28.2 |
23.0 |
24.3 |
23.4 |
5.2 |
|
Long Term Investments |
47.3 |
23.0 |
24.9 |
23.4 |
5.2 |
|
Note Receivable - Long Term |
0.4 |
0.7 |
0.6 |
0.3 |
0.2 |
|
Deferred Income Tax - Long Term Asset |
1.1 |
1.6 |
0.4 |
0.3 |
0.9 |
|
Other Long Term Assets |
4.7 |
6.6 |
5.1 |
3.4 |
2.1 |
|
Other Long Term Assets, Total |
5.8 |
8.2 |
5.5 |
3.7 |
3.0 |
|
Total Assets |
748.0 |
832.7 |
778.9 |
430.4 |
396.2 |
|
|
|
|
|
|
|
|
Accounts Payable |
247.0 |
326.5 |
273.4 |
178.1 |
175.6 |
|
Accrued Expenses |
4.3 |
7.2 |
4.7 |
2.8 |
1.8 |
|
Notes Payable/Short Term Debt |
130.2 |
183.7 |
213.2 |
60.8 |
105.2 |
|
Current Portion - Long Term Debt/Capital Leases |
27.4 |
34.1 |
27.6 |
22.0 |
15.3 |
|
Income Taxes Payable |
1.1 |
16.4 |
14.9 |
3.4 |
2.0 |
|
Deferred Income Tax - Current Liability |
0.9 |
- |
0.2 |
0.9 |
0.0 |
|
Other Current Liabilities |
15.2 |
20.8 |
22.9 |
8.8 |
6.7 |
|
Other Current liabilities, Total |
17.2 |
37.2 |
38.0 |
13.1 |
8.7 |
|
Total Current Liabilities |
426.2 |
588.7 |
556.9 |
276.8 |
306.5 |
|
|
|
|
|
|
|
|
Long Term Debt |
128.6 |
63.2 |
65.0 |
44.7 |
13.0 |
|
Total Long Term Debt |
128.6 |
63.2 |
65.0 |
44.7 |
13.0 |
|
Total Debt |
286.2 |
281.0 |
305.8 |
127.5 |
133.4 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
19.2 |
5.5 |
6.4 |
4.9 |
0.0 |
|
Deferred Income Tax |
19.2 |
5.5 |
6.4 |
4.9 |
0.0 |
|
Minority Interest |
4.5 |
4.4 |
2.9 |
2.0 |
1.8 |
|
Pension Benefits - Underfunded |
4.6 |
4.4 |
3.8 |
2.5 |
2.6 |
|
Other Long Term Liabilities |
1.3 |
0.8 |
0.3 |
3.5 |
0.0 |
|
Other Liabilities, Total |
6.0 |
5.1 |
4.2 |
6.1 |
2.6 |
|
Total Liabilities |
584.5 |
666.9 |
635.3 |
334.5 |
323.9 |
|
|
|
|
|
|
|
|
Common Stock |
30.1 |
34.4 |
34.1 |
22.4 |
21.2 |
|
Common Stock |
30.1 |
34.4 |
34.1 |
22.4 |
21.2 |
|
Additional Paid-In Capital |
20.4 |
23.2 |
23.1 |
12.6 |
11.8 |
|
Retained Earnings (Accumulated Deficit) |
108.7 |
111.8 |
87.3 |
59.5 |
40.4 |
|
Treasury Stock - Common |
0.0 |
0.0 |
- |
- |
- |
|
Unrealized Gain (Loss) |
0.9 |
-0.5 |
0.9 |
1.9 |
0.1 |
|
Translation Adjustment |
3.9 |
-2.6 |
-2.2 |
-1.1 |
-1.2 |
|
Other Equity |
0.0 |
0.0 |
- |
- |
- |
|
Other Comprehensive Income |
-0.4 |
-0.5 |
0.4 |
0.6 |
0.2 |
|
Other Equity, Total |
3.5 |
-3.0 |
-1.8 |
-0.5 |
-1.0 |
|
Total Equity |
163.6 |
165.8 |
143.6 |
96.0 |
72.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders Equity |
748.0 |
832.7 |
778.9 |
430.4 |
396.2 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary Issue |
6.4 |
6.4 |
6.3 |
5.3 |
5.3 |
|
Total Common Shares Outstanding |
6.4 |
6.4 |
6.3 |
5.3 |
5.3 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
511 |
411 |
402 |
361 |
247 |
|
Number of Common Shareholders |
3,867 |
3,650 |
3,323 |
2,019 |
2,016 |
|
Total Long Term Debt, Supplemental |
156.0 |
97.3 |
92.6 |
66.7 |
28.2 |
|
Long Term Debt Maturing within 1 Year |
27.4 |
34.1 |
27.6 |
22.0 |
15.3 |
|
Long Term Debt Maturing in Year 2 |
31.7 |
27.9 |
25.6 |
17.2 |
8.6 |
|
Long Term Debt Maturing in Year 3 |
28.4 |
17.8 |
19.6 |
15.2 |
4.1 |
|
Long Term Debt Maturing in Year 4 |
20.7 |
16.1 |
11.3 |
9.8 |
0.2 |
|
Long Term Debt Maturing in Year 5 |
22.7 |
1.4 |
8.5 |
2.5 |
0.0 |
|
Long Term Debt Maturing in 2-3 Years |
60.1 |
45.7 |
45.2 |
32.4 |
12.7 |
|
Long Term Debt Maturing in 4-5 Years |
43.4 |
17.5 |
19.8 |
12.3 |
0.2 |
|
Long Term Debt Matur. in Year 6 & Beyond |
25.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Pension Obligation - Domestic |
4.8 |
4.9 |
4.4 |
3.2 |
3.0 |
|
Plan Assets - Domestic |
1.9 |
2.0 |
1.7 |
1.3 |
1.1 |
|
Funded Status - Domestic |
-2.9 |
-2.9 |
-2.7 |
-1.9 |
-1.9 |
|
Total Funded Status |
-2.9 |
-2.9 |
-2.7 |
-1.9 |
-1.9 |
|
Accrued Liabilities - Domestic |
-2.9 |
-2.9 |
-2.7 |
-1.9 |
-1.9 |
|
Net Assets Recognized on Balance Sheet |
-2.9 |
-2.9 |
-2.7 |
-1.9 |
-1.9 |
|
Total Plan Obligations |
4.8 |
4.9 |
4.4 |
3.2 |
3.0 |
|
Total Plan Assets |
1.9 |
2.0 |
1.7 |
1.3 |
1.1 |
|
|
|
Annual Cash Flows |
|
Financials in: USD (mil) |
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
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) |
82.970472 |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
|
Auditor |
Ernst & Young ShinNihon LLC |
Ernst & Young ShinNihon LLC |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
31.3 |
56.4 |
39.4 |
26.4 |
5.6 |
|
Depreciation |
4.9 |
4.9 |
4.1 |
3.5 |
1.4 |
|
Depreciation/Depletion |
4.9 |
4.9 |
4.1 |
3.5 |
1.4 |
|
Amortization of Acquisition Costs |
0.1 |
0.2 |
0.1 |
0.3 |
0.4 |
|
Amortization |
0.1 |
0.2 |
0.1 |
0.3 |
0.4 |
|
Unusual Items |
3.3 |
0.5 |
0.0 |
-10.8 |
10.4 |
|
Equity in Net Earnings (Loss) |
-1.5 |
- |
- |
- |
- |
|
Other Non-Cash Items |
4.3 |
4.5 |
-0.8 |
1.9 |
2.2 |
|
Non-Cash Items |
6.1 |
4.9 |
-0.9 |
-8.9 |
12.6 |
|
Accounts Receivable |
29.9 |
-46.4 |
-110.0 |
-6.9 |
145.2 |
|
Inventories |
88.9 |
16.8 |
-126.0 |
47.1 |
9.9 |
|
Prepaid Expenses |
1.7 |
12.7 |
-13.2 |
-0.9 |
-0.4 |
|
Other Assets |
- |
- |
0.0 |
0.0 |
0.0 |
|
Accounts Payable |
-50.9 |
53.3 |
72.8 |
-9.2 |
-119.1 |
|
Accrued Expenses |
-2.3 |
2.6 |
1.5 |
0.5 |
-2.1 |
|
Taxes Payable |
-0.1 |
0.0 |
0.1 |
0.1 |
-0.1 |
|
Other Liabilities |
1.0 |
-7.4 |
9.0 |
-0.2 |
1.3 |
|
Other Operating Cash Flow |
-25.7 |
-24.6 |
-4.6 |
-5.1 |
-11.2 |
|
Changes in Working Capital |
42.7 |
7.0 |
-170.4 |
25.5 |
23.6 |
|
Cash from Operating Activities |
85.0 |
73.4 |
-127.6 |
46.8 |
43.6 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-3.7 |
-6.9 |
-0.7 |
-0.4 |
-0.7 |
|
Purchase/Acquisition of Intangibles |
-1.6 |
-0.2 |
-0.5 |
-0.2 |
-5.6 |
|
Capital Expenditures |
-5.3 |
-7.1 |
-1.2 |
-0.6 |
-6.3 |
|
Acquisition of Business |
-81.9 |
- |
-6.1 |
-23.8 |
-0.9 |
|
Sale of Fixed Assets |
- |
- |
0.0 |
0.0 |
0.0 |
|
Sale/Maturity of Investment |
1.4 |
1.8 |
0.5 |
3.2 |
5.5 |
|
Purchase of Investments |
-30.6 |
-2.4 |
-2.5 |
-15.5 |
-3.8 |
|
Other Investing Cash Flow |
3.4 |
-1.4 |
-0.5 |
0.1 |
0.0 |
|
Other Investing Cash Flow Items, Total |
-107.7 |
-1.9 |
-8.6 |
-36.0 |
0.8 |
|
Cash from Investing Activities |
-113.0 |
-9.0 |
-9.8 |
-36.6 |
-5.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-0.2 |
0.0 |
-0.1 |
-0.1 |
0.1 |
|
Financing Cash Flow Items |
-0.2 |
0.0 |
-0.1 |
-0.1 |
0.1 |
|
Cash Dividends Paid - Common |
-4.9 |
-6.0 |
-2.6 |
-2.4 |
-2.2 |
|
Total Cash Dividends Paid |
-4.9 |
-6.0 |
-2.6 |
-2.4 |
-2.2 |
|
Sale/Issuance of Common |
0.0 |
0.1 |
17.1 |
0.1 |
0.0 |
|
Common Stock, Net |
0.0 |
0.1 |
17.1 |
0.1 |
0.0 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
0.1 |
17.1 |
0.1 |
0.0 |
|
Short Term Debt, Net |
-43.7 |
-33.4 |
140.2 |
-51.7 |
-10.4 |
|
Long Term Debt Issued |
114.7 |
36.7 |
40.8 |
62.1 |
6.0 |
|
Long Term Debt Reduction |
-34.8 |
-32.4 |
-24.0 |
-31.5 |
-7.8 |
|
Long Term Debt, Net |
79.9 |
4.3 |
16.9 |
30.6 |
-1.8 |
|
Issuance (Retirement) of Debt, Net |
36.3 |
-29.1 |
157.1 |
-21.1 |
-12.3 |
|
Cash from Financing Activities |
31.2 |
-34.9 |
171.5 |
-23.5 |
-14.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
3.3 |
-0.3 |
-1.3 |
0.1 |
-2.9 |
|
Net Change in Cash |
6.5 |
29.2 |
32.8 |
-13.2 |
20.9 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
126.6 |
103.8 |
62.9 |
71.1 |
44.9 |
|
Net Cash - Ending Balance |
133.1 |
133.0 |
95.7 |
58.0 |
65.8 |
|
Cash Interest Paid |
2.8 |
3.5 |
2.9 |
2.3 |
2.1 |
|
Cash Taxes Paid |
29.8 |
25.4 |
6.1 |
3.0 |
10.0 |
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
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) |
82.970472 |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
|
Auditor |
Ernst & Young ShinNihon LLC |
Ernst & Young ShinNihon LLC |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net sales |
1,985.9 |
2,795.1 |
1,843.6 |
1,174.9 |
1,646.4 |
|
Total Revenue |
1,985.9 |
2,795.1 |
1,843.6 |
1,174.9 |
1,646.4 |
|
|
|
|
|
|
|
|
Rounding adjustment Income Statement |
- |
0.0 |
- |
- |
- |
|
Cost of goods sold |
1,880.3 |
2,660.3 |
1,747.1 |
1,111.0 |
1,588.1 |
|
other SGA |
19.6 |
- |
- |
- |
- |
|
Other Selling/General/Admin. Expense |
- |
22.8 |
- |
- |
- |
|
Payrolls |
23.9 |
27.0 |
23.4 |
19.3 |
14.9 |
|
Welfare expenses |
3.8 |
4.2 |
3.5 |
2.5 |
2.0 |
|
Outsourcing expenses |
4.8 |
5.2 |
4.4 |
3.4 |
4.6 |
|
Provision for bonuses |
4.5 |
7.1 |
4.1 |
2.4 |
2.7 |
|
Reserve for officers retirement |
0.5 |
0.4 |
0.5 |
0.2 |
0.2 |
|
Provision for doubtful accounts(SGA) |
1.3 |
1.2 |
0.8 |
0.1 |
0.2 |
|
Periodic retirement benefit costs |
1.2 |
1.2 |
1.3 |
0.6 |
0.6 |
|
Land and house rent |
3.2 |
3.2 |
2.6 |
2.4 |
2.2 |
|
Depreciation expenses |
2.9 |
3.1 |
2.5 |
2.4 |
1.4 |
|
Amortization of goodwill |
0.1 |
0.2 |
0.1 |
0.3 |
0.4 |
|
Research and development Expenses |
- |
- |
- |
0.0 |
- |
|
Other general expenses |
- |
- |
17.5 |
13.6 |
12.9 |
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Pension Fund Expenses |
0.9 |
- |
- |
- |
- |
|
Subsidy income |
-0.9 |
- |
- |
- |
- |
|
Office transfer expenses |
- |
0.4 |
- |
- |
- |
|
SP Reversal G on allow.doubt.accounts |
- |
- |
-0.3 |
0.0 |
-0.9 |
|
SP Rev.G on new stock warranty |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
SP G on negative goodwill |
- |
- |
0.0 |
-11.7 |
0.0 |
|
SP Rev. of pro. for directors' retire. |
- |
- |
0.0 |
-0.1 |
0.0 |
|
SP Insurance income |
- |
- |
-4.6 |
0.0 |
- |
|
SP Other gains |
-0.1 |
- |
0.0 |
0.0 |
- |
|
SP Loss on retirement of fixed assets |
- |
- |
0.0 |
0.0 |
0.0 |
|
SP Loss on val. of LT investment secs. |
3.3 |
- |
0.3 |
0.5 |
9.5 |
|
SP Impairment loss |
- |
- |
0.0 |
0.1 |
0.0 |
|
SP Reserve for dir's retire. benefit |
- |
- |
- |
0.0 |
0.0 |
|
SP L on valuation of golf club membershi |
- |
- |
0.0 |
0.0 |
0.0 |
|
SP Office transfer expenses |
- |
- |
0.0 |
- |
- |
|
SP Other losses |
0.4 |
0.1 |
0.0 |
0.0 |
- |
|
NOP Loss on valuation of inventories |
- |
- |
- |
- |
0.0 |
|
NOP G on valuation of exchange contract |
- |
- |
- |
0.0 |
-0.3 |
|
NOP L on valuation of exchange contract |
- |
- |
0.0 |
0.4 |
0.0 |
|
Total Operating Expense |
1,949.9 |
2,736.2 |
1,803.2 |
1,147.3 |
1,638.4 |
|
|
|
|
|
|
|
|
NOP Interest income |
0.2 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Other Non-Operating Income (Expense) |
0.0 |
0.0 |
- |
- |
- |
|
NOP Cash purchase discount received |
0.3 |
0.3 |
0.3 |
0.2 |
0.2 |
|
Equity in earnings of affiliates |
1.5 |
- |
- |
- |
- |
|
Foreign Exchange Losses |
-3.6 |
- |
- |
- |
- |
|
Loss On Change In Equity |
- |
-0.1 |
- |
- |
- |
|
NOP Dividends received |
0.5 |
0.5 |
0.5 |
0.1 |
0.6 |
|
NOP Foreign exchange gains |
0.0 |
0.8 |
1.3 |
1.3 |
1.7 |
|
NOP Contract revenue |
0.1 |
0.2 |
0.2 |
0.1 |
0.2 |
|
NOP Rearch Subsidy income |
- |
- |
- |
0.0 |
0.4 |
|
Rent of real estate |
0.5 |
0.6 |
0.5 |
0.3 |
0.0 |
|
NOP Other non-operating income |
0.8 |
0.7 |
0.9 |
0.6 |
0.6 |
|
NOP Interest expenses |
-2.9 |
-3.6 |
-2.9 |
-2.1 |
-1.9 |
|
NOP Interest on bonds |
- |
- |
-0.1 |
-0.1 |
-0.2 |
|
NOP Sales discount expense |
-0.1 |
-0.3 |
-0.1 |
-0.1 |
-0.1 |
|
NOP Foreign exchange losses |
- |
- |
- |
- |
0.0 |
|
NOP L on sale of trade notes receivable |
-0.6 |
-0.7 |
-0.5 |
-0.6 |
-1.1 |
|
NOP L on sale of acct. receivables |
- |
- |
-0.3 |
-0.3 |
-0.3 |
|
NOP Notes receivable liquidation fee |
- |
- |
-0.1 |
0.0 |
-0.3 |
|
NOP Guarantee commissions expenses |
- |
- |
0.0 |
-0.3 |
-0.6 |
|
Rent cost of real estate |
-0.3 |
-0.2 |
-0.2 |
-0.1 |
0.0 |
|
NOP Other non-operating expenses |
-1.1 |
-0.9 |
-0.9 |
-0.3 |
-0.3 |
|
SP Gain on sale of fixed asset |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
SP Gain on sale of LT investment secs. |
- |
- |
- |
0.0 |
0.1 |
|
SP G on liquidation of subsidiaries and |
- |
- |
0.4 |
0.0 |
- |
|
SP Loss on sale of fixed assets |
- |
- |
0.0 |
0.0 |
0.0 |
|
SP Loss on sale of LT investment. secs. |
- |
- |
- |
0.0 |
-1.1 |
|
SP L on equity change |
- |
- |
0.0 |
0.0 |
-0.4 |
|
SP L on liquidation of subsidiary |
- |
- |
- |
0.0 |
-0.1 |
|
SP Loss on sale of golf memberships |
- |
- |
0.0 |
0.0 |
- |
|
Net Income Before Taxes |
31.3 |
56.4 |
39.4 |
26.4 |
5.6 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
13.3 |
23.9 |
16.5 |
6.9 |
3.5 |
|
Net Income After Taxes |
18.0 |
32.5 |
22.8 |
19.6 |
2.2 |
|
|
|
|
|
|
|
|
Minority interests in income |
-0.7 |
-1.4 |
-0.7 |
-0.2 |
-0.3 |
|
Net Income Before Extra. Items |
17.2 |
31.0 |
22.2 |
19.4 |
1.8 |
|
Net Income |
17.2 |
31.0 |
22.2 |
19.4 |
1.8 |
|
|
|
|
|
|
|
|
Earnings adj |
- |
- |
0.0 |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
17.2 |
31.0 |
22.2 |
19.4 |
1.8 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
17.2 |
31.0 |
22.2 |
19.4 |
1.8 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
6.4 |
6.4 |
5.6 |
5.3 |
5.3 |
|
Basic EPS Excluding ExtraOrdinary Items |
2.71 |
4.88 |
3.96 |
3.63 |
0.34 |
|
Basic EPS Including ExtraOrdinary Items |
2.71 |
4.88 |
3.96 |
3.63 |
0.34 |
|
Dilution Adjustment |
-0.1 |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
17.2 |
30.9 |
22.1 |
19.4 |
1.8 |
|
Diluted Weighted Average Shares |
6.4 |
6.4 |
5.6 |
5.3 |
5.3 |
|
Diluted EPS Excluding ExtraOrd Items |
2.70 |
4.86 |
3.95 |
3.63 |
0.33 |
|
Diluted EPS Including ExtraOrd Items |
2.70 |
4.86 |
3.95 |
3.63 |
0.33 |
|
DPS-Ordinary Shares |
0.72 |
0.76 |
0.53 |
0.46 |
0.42 |
|
Gross Dividends - Common Stock |
4.6 |
4.8 |
3.7 |
2.4 |
2.3 |
|
Normalized Income Before Taxes |
35.6 |
57.7 |
35.9 |
16.6 |
15.9 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
15.1 |
24.4 |
15.0 |
4.2 |
6.9 |
|
Normalized Income After Taxes |
20.5 |
33.3 |
20.9 |
12.4 |
9.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
19.8 |
31.8 |
20.2 |
12.2 |
8.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
3.11 |
5.01 |
3.61 |
2.28 |
1.62 |
|
Diluted Normalized EPS |
3.10 |
4.98 |
3.60 |
2.28 |
1.61 |
|
Interest expenses |
2.9 |
3.6 |
2.9 |
2.1 |
1.9 |
|
Interest on bonds |
- |
- |
0.1 |
0.1 |
0.2 |
|
BC - Depreciation of Fixed Assets |
4.9 |
- |
- |
- |
- |
|
Depreciation |
- |
4.9 |
- |
- |
- |
|
Depreciation |
- |
- |
4.1 |
3.5 |
1.4 |
|
BC - Depreciation of Goodwill |
0.1 |
- |
- |
- |
- |
|
Amortization of goodwill |
- |
0.2 |
0.1 |
0.3 |
0.4 |
|
R & D expenses |
- |
- |
- |
0.0 |
- |
|
Rental |
3.2 |
3.2 |
2.6 |
2.4 |
2.2 |
|
Income taxes-current |
11.0 |
27.1 |
- |
- |
- |
|
Current Tax - Total |
11.0 |
27.1 |
- |
- |
- |
|
Income taxes-deferred |
2.2 |
-3.2 |
- |
- |
- |
|
Deferred Tax - Total |
2.2 |
-3.2 |
- |
- |
- |
|
Income Tax - Total |
13.3 |
23.9 |
- |
- |
- |
|
Reported operating profit |
39.6 |
59.4 |
35.9 |
16.5 |
16.4 |
|
Reported ordinary profit |
34.9 |
57.0 |
34.6 |
15.1 |
15.7 |
|
Other Pension, Net - Domestic |
- |
0.1 |
0.1 |
0.1 |
0.0 |
|
Service cost |
1.2 |
1.2 |
1.3 |
0.6 |
0.5 |
|
Domestic Pension Plan Expense |
1.2 |
1.3 |
1.4 |
0.7 |
0.5 |
|
Welfare Pension Contribution Expense |
0.9 |
- |
- |
- |
- |
|
Foreign Pension Plan Expense |
0.9 |
- |
- |
- |
- |
|
Retirement Benefit Expenses Premium Paym |
0.1 |
- |
- |
- |
- |
|
Defined contribution expenses |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Pension Expense |
2.2 |
1.3 |
1.4 |
0.7 |
0.6 |
|
|
|
Annual Balance Sheet |
|
Financials in: USD (mil) |
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
94.088557 |
82.385362 |
82.88 |
93.44 |
98.77 |
|
Auditor |
Ernst & Young ShinNihon LLC |
Ernst & Young ShinNihon LLC |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & deposits |
117.8 |
128.7 |
100.6 |
59.0 |
66.9 |
|
Notes and accounts receivable-trade |
319.4 |
385.7 |
328.5 |
191.2 |
162.2 |
|
Merchandise&finished goods |
124.6 |
226.0 |
241.8 |
94.1 |
126.4 |
|
Work in process |
4.1 |
0.7 |
0.5 |
0.2 |
0.0 |
|
Raw materials and supplies |
3.4 |
0.2 |
0.1 |
0.1 |
0.0 |
|
Sales tax receivable |
- |
- |
0.0 |
0.9 |
3.1 |
|
Deferred income taxes (current) |
4.8 |
7.8 |
5.4 |
2.4 |
3.3 |
|
Rounding adjustment Assets |
0.0 |
0.0 |
- |
- |
- |
|
Other current assets |
17.8 |
11.8 |
32.9 |
18.6 |
17.2 |
|
Allowance for doubtful accounts(current) |
-3.7 |
-3.1 |
-2.6 |
-1.9 |
-1.7 |
|
Total Current Assets |
588.3 |
757.9 |
707.4 |
364.6 |
377.6 |
|
|
|
|
|
|
|
|
Buildings & structures, gross |
20.0 |
14.9 |
13.1 |
11.5 |
1.0 |
|
Accmulated Depreciation |
-9.9 |
-8.8 |
-8.7 |
-7.3 |
-0.3 |
|
Machinery, equipment and vehicles |
31.8 |
22.3 |
19.1 |
16.6 |
0.3 |
|
Accumulated depreciation |
-25.2 |
-18.2 |
-16.4 |
-13.4 |
-0.1 |
|
Tools, furniture and fixtures |
3.6 |
3.1 |
2.6 |
2.2 |
1.4 |
|
Accumulated depreciation |
-2.7 |
-2.2 |
-2.1 |
-1.7 |
-0.9 |
|
Land |
24.1 |
27.3 |
27.1 |
24.1 |
1.0 |
|
Construction-in-progress |
0.1 |
0.8 |
0.2 |
0.0 |
0.0 |
|
Goodwill |
26.9 |
0.2 |
0.3 |
0.4 |
0.6 |
|
Other Total Intangible Assets, Net |
0.0 |
0.0 |
- |
- |
- |
|
Software rights |
1.8 |
3.4 |
5.1 |
6.0 |
7.2 |
|
Software in progress |
- |
- |
- |
0.0 |
0.0 |
|
Other intangible assets |
35.7 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Investment Securities - Balancing value |
28.2 |
- |
- |
- |
- |
|
Long-term investment in securities |
- |
23.0 |
24.3 |
23.4 |
5.2 |
|
Invt Secs Noncons, Asc, Affd Cos |
19.1 |
- |
- |
- |
- |
|
Equity secs.-affiliates-stock |
- |
- |
0.7 |
- |
- |
|
Long-term loans receivable |
0.4 |
0.7 |
0.6 |
0.3 |
0.2 |
|
Long-term notes receivable |
- |
- |
0.0 |
0.0 |
0.0 |
|
Rounding adjustment Assets |
0.0 |
0.0 |
- |
- |
- |
|
Other Other Long Term Assets |
- |
0.0 |
- |
- |
- |
|
Deferred tax assets |
1.1 |
1.6 |
0.4 |
0.3 |
0.9 |
|
Other assets |
5.2 |
7.1 |
5.1 |
3.4 |
2.1 |
|
Allowance doubt.accounts (non-current) |
-0.5 |
-0.5 |
0.0 |
0.0 |
0.0 |
|
Other Property, plant and equipment |
0.0 |
- |
- |
- |
- |
|
Other Buildings, Net |
- |
0.0 |
- |
- |
- |
|
Other Plant/machinery, Net(1) |
- |
0.0 |
- |
- |
- |
|
Other Plant/machinery, Net |
- |
0.0 |
- |
- |
- |
|
other PPE |
- |
0.0 |
- |
- |
- |
|
Total Assets |
748.0 |
832.7 |
778.9 |
430.4 |
396.2 |
|
|
|
|
|
|
|
|
Notes and accounts payable-trade |
247.0 |
326.5 |
273.4 |
178.1 |
175.6 |
|
Short-term loans payable |
130.2 |
183.7 |
213.2 |
60.8 |
105.2 |
|
Current portion of long-term loans payab |
21.0 |
29.3 |
23.0 |
18.1 |
8.6 |
|
Straight bonds (current portion) |
6.4 |
4.9 |
4.6 |
3.9 |
6.7 |
|
Income taxes payable |
1.1 |
16.4 |
14.9 |
3.4 |
2.0 |
|
Reserve for bonuses |
4.3 |
7.2 |
4.7 |
2.8 |
1.8 |
|
Deferred tax liabilities, current |
0.9 |
- |
0.2 |
0.9 |
0.0 |
|
Rounding adjustment Liability |
0.0 |
0.0 |
- |
- |
- |
|
Other current liabilities |
15.2 |
20.7 |
22.9 |
8.8 |
6.7 |
|
Total Current Liabilities |
426.2 |
588.7 |
556.9 |
276.8 |
306.5 |
|
|
|
|
|
|
|
|
Straight bonds |
19.1 |
17.0 |
9.7 |
1.9 |
5.5 |
|
Long-term loans payable |
109.4 |
46.2 |
55.3 |
42.8 |
7.5 |
|
Total Long Term Debt |
128.6 |
63.2 |
65.0 |
44.7 |
13.0 |
|
|
|
|
|
|
|
|
Deferred tax liabilities (non-current) |
19.2 |
5.5 |
6.4 |
4.9 |
0.0 |
|
Reserve for retirement benefits (accrued |
2.9 |
2.9 |
2.7 |
1.9 |
1.9 |
|
Provision for directors'' retirement ben |
1.8 |
1.5 |
1.2 |
0.6 |
0.7 |
|
Rounding adjustment Liability |
0.0 |
0.0 |
- |
- |
- |
|
Long-term accounts payable-other |
0.8 |
0.7 |
0.3 |
3.5 |
0.0 |
|
Other long-term liabilities |
0.5 |
- |
0.0 |
0.0 |
0.0 |
|
Minority interests |
4.5 |
4.4 |
2.9 |
2.0 |
1.8 |
|
Total Liabilities |
584.5 |
666.9 |
635.3 |
334.5 |
323.9 |
|
|
|
|
|
|
|
|
Treasury Stock |
0.0 |
0.0 |
- |
- |
- |
|
Rounding adjustment Equity |
0.0 |
- |
- |
- |
- |
|
Rounding adjustment Equity |
- |
0.0 |
- |
- |
- |
|
Common stock |
30.1 |
34.4 |
34.1 |
22.4 |
21.2 |
|
Total capital surpluses |
19.9 |
22.7 |
22.5 |
12.2 |
11.5 |
|
Total retained earnings |
108.7 |
111.8 |
87.3 |
59.5 |
40.4 |
|
Valuation difference on available-for-sa |
0.9 |
-0.5 |
0.9 |
1.9 |
0.1 |
|
Deferred hedge gain/losses |
-0.4 |
-0.5 |
0.4 |
0.6 |
0.2 |
|
Cumulative translation adjustments |
3.9 |
-2.6 |
-2.2 |
-1.1 |
-1.2 |
|
New stock subscription right |
0.4 |
0.5 |
0.5 |
0.5 |
0.3 |
|
Total Equity |
163.6 |
165.8 |
143.6 |
96.0 |
72.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
748.0 |
832.7 |
778.9 |
430.4 |
396.2 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
6.4 |
6.4 |
6.3 |
5.3 |
5.3 |
|
Total Common Shares Outstanding |
6.4 |
6.4 |
6.3 |
5.3 |
5.3 |
|
T/S-Ordinary Shares |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Number of Employee |
511 |
411 |
- |
- |
- |
|
Full-Time Employees |
- |
- |
402 |
361 |
247 |
|
Total Number of Shareholders |
3,867 |
- |
- |
- |
- |
|
Number of common shareholders |
- |
3,650 |
3,323 |
2,019 |
2,016 |
|
LT Debt Remainings |
25.0 |
- |
- |
- |
- |
|
Loans Payable Remaining |
- |
0.0 |
- |
- |
- |
|
Within One Year |
6.4 |
4.9 |
- |
- |
- |
|
Division And End Of Current Period Remai |
21.0 |
29.3 |
- |
- |
- |
|
LT debt & bonds maturing within 1 yr |
- |
- |
27.6 |
22.0 |
15.3 |
|
Over One Year And Within Two Years |
6.4 |
4.9 |
- |
- |
- |
|
Lns Pble Maturing over a Yr within 2 Yrs |
25.3 |
23.0 |
- |
- |
- |
|
LT debt & bonds maturing within 2 yrs |
- |
- |
25.6 |
17.2 |
8.6 |
|
Over Two Years And Within Three Years |
6.4 |
4.9 |
- |
- |
- |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
22.1 |
12.9 |
- |
- |
- |
|
LT debt & bonds maturing within 3 yrs |
- |
- |
19.6 |
15.2 |
4.1 |
|
Over Three Years And Within Four Years |
4.3 |
4.9 |
- |
- |
- |
|
Over Four Years And Within Five Years |
2.1 |
2.4 |
- |
- |
- |
|
Lns Pble Maturg over 3 Yrs within 4 Yrs |
14.4 |
8.8 |
- |
- |
- |
|
LT debt & bonds maturing within 4 yrs |
- |
- |
11.3 |
9.8 |
0.2 |
|
Lns Pble Maturg over 4 Yrs within 5 Yrs |
22.7 |
1.4 |
- |
- |
- |
|
LT debt & bonds maturing within 5 yrs |
- |
- |
8.5 |
2.5 |
0.0 |
|
Total Long Term Debt, Supplemental |
156.0 |
97.3 |
92.6 |
66.7 |
28.2 |
|
Pension obligation |
4.8 |
4.9 |
4.4 |
3.2 |
3.0 |
|
Fair value of plan asset |
1.9 |
2.0 |
1.7 |
1.3 |
1.1 |
|
Funded Status - Total/No Break-down |
-2.9 |
- |
- |
- |
- |
|
Funded status |
- |
-2.9 |
-2.7 |
-1.9 |
-1.9 |
|
Total Funded Status |
-2.9 |
-2.9 |
-2.7 |
-1.9 |
-1.9 |
|
Reserve for accrued retirement benefits |
-2.9 |
-2.9 |
-2.7 |
-1.9 |
-1.9 |
|
Net Assets Recognized on Balance Sheet |
-2.9 |
-2.9 |
-2.7 |
-1.9 |
-1.9 |
|
|
|
Annual Cash Flows |
|
Financials in: USD (mil) |
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
||
|
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) |
82.970472 |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
||
|
Auditor |
Ernst & Young ShinNihon LLC |
Ernst & Young ShinNihon LLC |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
||
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
||
|
|
|
|
|
|
|
||
|
Net Income |
31.3 |
56.4 |
39.4 |
26.4 |
5.6 |
||
|
Depreciation |
4.9 |
4.9 |
4.1 |
3.5 |
1.4 |
||
|
Equity in (earnings) losses of affiliate |
-1.5 |
- |
- |
- |
- |
||
|
Amort of goodwill |
0.1 |
0.2 |
0.1 |
0.3 |
0.4 |
||
|
Office relocation expenses(1) |
- |
0.4 |
- |
- |
- |
||
|
Gain on negative goodwill |
- |
- |
0.0 |
-11.7 |
0.0 |
||
|
Stock compensation expenses |
- |
- |
0.0 |
0.2 |
0.2 |
||
|
Rev. G on reserve for new stock warranty |
- |
- |
0.0 |
0.0 |
0.0 |
||
|
Insurance income |
- |
- |
-4.6 |
0.0 |
- |
||
|
Loss (gain) on liquidation of subsidiari |
- |
- |
-0.4 |
0.0 |
- |
||
|
Assets impairment loss |
- |
- |
0.0 |
0.1 |
0.0 |
||
|
Increase (decrease) in allowance for dou |
1.2 |
1.0 |
0.5 |
0.0 |
-0.7 |
||
|
Increase (decrease) in provision for bon |
-2.3 |
2.6 |
1.5 |
0.5 |
-1.6 |
||
|
Increase (decrease) in provision for ret |
0.4 |
0.2 |
0.5 |
-0.4 |
0.4 |
||
|
Increase (decrease) in provision for dir |
0.5 |
0.3 |
0.4 |
-0.3 |
0.2 |
||
|
Reversal of int.& dividends received |
-0.7 |
-0.6 |
-0.6 |
-0.3 |
-0.8 |
||
|
Reversal of interest expenses |
2.9 |
3.6 |
2.9 |
2.1 |
1.9 |
||
|
Reversal of bond interest expenses |
- |
- |
0.0 |
0.1 |
0.2 |
||
|
Foreign exchange gains/losses |
- |
- |
0.0 |
0.4 |
0.8 |
||
|
G/L on valuation of exchange contract |
- |
- |
0.0 |
0.4 |
-0.3 |
||
|
Gain/loss on the sale of fixed assets |
- |
- |
0.0 |
0.0 |
0.0 |
||
|
L on retirement/sale of fixed assets |
- |
- |
- |
- |
0.0 |
||
|
Gain/Loss on retirement of fixed assets |
- |
- |
0.0 |
0.0 |
0.0 |
||
|
Loss on sale of LT investment in secs. |
- |
- |
- |
0.0 |
1.0 |
||
|
Gain/Loss on val. LT investment in secs. |
3.3 |
- |
0.3 |
0.5 |
9.5 |
||
|
Office relocation expenses |
- |
- |
0.0 |
- |
- |
||
|
G/L on equity change |
- |
0.1 |
0.0 |
0.0 |
0.4 |
||
|
L on valuation of golf membership |
- |
- |
0.0 |
0.0 |
0.0 |
||
|
Decrease (increase) in notes and account |
36.7 |
-60.3 |
-110.9 |
-8.9 |
146.2 |
||
|
Decrease (increase) in inventories |
88.9 |
16.8 |
-126.0 |
47.1 |
9.9 |
||
|
Increase (decrease) in notes and account |
-51.1 |
57.2 |
72.3 |
-9.4 |
-119.0 |
||
|
Decrease (increase) in consumption taxes |
-4.6 |
5.7 |
-2.3 |
0.1 |
-0.4 |
||
|
Increase (decrease) in income taxes paya |
-0.1 |
0.0 |
0.1 |
0.1 |
-0.1 |
||
|
Inc (Dec) business tax payables |
- |
- |
- |
- |
0.0 |
||
|
Decrease (increase) in advance payments |
1.7 |
12.7 |
-13.2 |
-1.0 |
-0.2 |
||
|
Inc (Dec) prepaid expenses |
- |
- |
0.0 |
0.1 |
-0.1 |
||
|
Decrease (increase) in accounts receivab |
-2.2 |
8.1 |
3.2 |
1.9 |
-0.5 |
||
|
ST sec. & guarantee deposits made |
- |
- |
0.0 |
0.0 |
0.0 |
||
|
LT sec. & guaranteed deposits made |
- |
- |
0.0 |
0.0 |
0.0 |
||
|
Increase (decrease) in accounts payable- |
0.2 |
-3.9 |
0.5 |
0.2 |
-0.1 |
||
|
Inc (Dec) accrued expenses |
- |
- |
0.0 |
0.1 |
-0.5 |
||
|
Increase (decrease) in advances received |
1.0 |
-7.4 |
9.0 |
-0.2 |
1.3 |
||
|
Inc (Dec) in security deposits received |
- |
- |
0.0 |
0.0 |
0.0 |
||
|
Other Operating Cash Flow |
0.0 |
0.0 |
- |
- |
- |
||
|
Other, net |
6.1 |
3.6 |
-0.7 |
-0.1 |
0.2 |
||
|
Interest & div.received(cash basis) |
0.7 |
0.6 |
0.6 |
0.3 |
0.8 |
||
|
Interest paid (cash basis) |
-2.8 |
-3.5 |
-2.9 |
-2.3 |
-2.1 |
||
|
Income taxes paid |
-29.8 |
-25.4 |
-7.4 |
-6.5 |
-10.0 |
||
|
Income taxes refund, cash basis |
- |
- |
1.3 |
3.5 |
0.0 |
||
|
Insurance income |
- |
- |
4.6 |
- |
- |
||
|
Adjustment |
- |
- |
0.0 |
0.0 |
0.0 |
||
|
Cash from Operating Activities |
85.0 |
73.4 |
-127.6 |
46.8 |
43.6 |
||
|
|
|
|
|
|
|
||
|
Time deposit made |
-0.7 |
-1.3 |
-0.1 |
-1.2 |
0.0 |
||
|
Time deposit matured |
1.4 |
1.8 |
0.0 |
3.2 |
0.0 |
||
|
Purchase of property, plant and equipmen |
-3.7 |
-6.9 |
-0.7 |
-0.4 |
-0.7 |
||
|
Sale of properties, plants & equipment |
- |
- |
0.0 |
0.0 |
0.0 |
||
|
Purchase of intangible assets |
-1.6 |
-0.2 |
-0.5 |
-0.2 |
-5.6 |
||
|
Purchase of LT investment in securities |
-29.3 |
-0.7 |
-1.5 |
-14.1 |
-3.8 |
||
|
Sale/LT investment in securities |
- |
- |
0.2 |
0.0 |
5.4 |
||
|
Payments for sales of investments in sub |
-0.7 |
- |
- |
- |
- |
||
|
Purchase of con.sub.'s stock-outflow |
-81.2 |
- |
0.0 |
-23.2 |
0.0 |
||
|
Closely-held inv'ts made |
- |
- |
- |
- |
0.0 |
||
|
Purchase of businesses |
- |
- |
-6.1 |
-0.6 |
-0.9 |
||
|
Rounding adjustment Cash flow |
0.0 |
0.0 |
- |
- |
- |
||
|
Loans made |
-0.7 |
-0.4 |
-0.8 |
-0.3 |
0.0 |
||
|
Payments for contributions in insurance |
-0.1 |
-0.1 |
-1.6 |
0.0 |
- |
||
|
Proceeds from sales of golf club members |
- |
- |
0.4 |
0.0 |
- |
||
|
Loans collected |
0.8 |
0.3 |
0.3 |
0.2 |
0.1 |
||
|
Other, net |
2.7 |
-1.5 |
0.7 |
-0.1 |
0.0 |
||
|
Cash from Investing Activities |
-113.0 |
-9.0 |
-9.8 |
-36.6 |
-5.5 |
||
|
|
|
|
|
|
|
||
|
Net increase (decrease) in short-term lo |
-43.7 |
-33.4 |
140.2 |
-51.7 |
-10.4 |
||
|
Proceeds from long-term loans payable |
102.7 |
24.1 |
29.2 |
62.1 |
6.0 |
||
|
Repayment of long-term loans payable |
-29.9 |
-27.6 |
-19.8 |
-24.4 |
-4.2 |
||
|
Bonds issued |
12.1 |
12.7 |
11.7 |
0.0 |
- |
||
|
Bonds redemption |
-4.8 |
-4.8 |
-4.2 |
-7.1 |
-3.6 |
||
|
Stocks issuance income |
0.0 |
0.1 |
17.1 |
0.1 |
0.0 |
||
|
Other, net |
0.0 |
- |
- |
- |
- |
||
|
Proceeds from Issuance of common stock t |
0.1 |
0.2 |
- |
- |
- |
||
|
Rounding adjustment Cash flow |
0.0 |
0.0 |
- |
- |
- |
||
|
Stock issued to min. shareholders |
- |
- |
0.0 |
0.0 |
0.2 |
||
|
Cash divd. paid |
-4.9 |
-6.0 |
-2.6 |
-2.4 |
-2.2 |
||
|
Proceed from minorities' payment |
-0.3 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
||
|
Cash from Financing Activities |
31.2 |
-34.9 |
171.5 |
-23.5 |
-14.4 |
||
|
|
|
|
|
|
|
||
|
Foreign Exchange Effects |
3.3 |
-0.3 |
-1.3 |
0.1 |
-2.9 |
||
|
Net Change in Cash |
6.5 |
29.2 |
32.8 |
-13.2 |
20.9 |
||
|
|
|
|
|
|
|
||
|
Net cash- Beginning balance |
126.6 |
103.8 |
62.9 |
71.1 |
44.9 |
||
|
Net cash- Ending balance |
133.1 |
133.0 |
95.7 |
58.0 |
65.8 |
||
|
Cash Interest Paid |
2.8 |
3.5 |
2.9 |
2.3 |
2.1 |
||
|
Cash Taxes Paid |
29.8 |
25.4 |
6.1 |
3.0 |
10.0 |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.96 |
|
|
1 |
Rs.101.14 |
|
Euro |
1 |
Rs.85.33 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 SCs 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.