MIRA
INFORM REPORT
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Report Date : |
27.12.2013 |
IDENTIFICATION DETAILS
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Name : |
SUMITOMO FORESTRY CO., LTD. |
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Registered Office : |
8F, Keidanren Kaikan, 1-3-2, Ote-machi, Chiyoda-Ku, 100-8270 |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
20.02.1948 |
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Legal Form : |
Public Branch |
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Line of Business : |
Subject is mainly engaged in forestry business |
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No. of Employees : |
14,890 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March, 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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
SUMITOMO FORESTRY CO., LTD.
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Business Description
Sumitomo Forestry Co., Ltd. is a company mainly engaged in forestry
business. Timber and Building Material segment purchases, manufactures, processes
and sells lumber products and building materials. Oversea segment is engaged in
the purchase, manufacture and sale of lumber products and building materials
overseas, as well as the contracted construction and sale of detached houses,
the planting, harvesting and management of forests. Housing segment constructs,
sells, maintains and renovates detached houses, apartment and condominiums,
operates exterior, landscape and greening works. Others segment operates pay
nursing homes, dispatches manpower, develops software, manufactures and sells
agriculture and gardening materials, and involves leasing business and
insurance agency business. On September 30, 2013, it disposed 85.1% stake in a
China-based wholly owned subsidiary. On September 27, 2013, the Company
acquired two subsidiaries. For the six months ended 30 September 2013, Sumitomo
Forestry Co., Ltd. revenues increased 11% to Y434.92B. Net income applicable to
common stockholders increased from Y3.61B to Y11.07B. Revenues reflect Timber
and Building Materials segment increase of 14% to Y211.38B, Housing Business
segment increase of 7% to Y204.29B. Net income benefited from NOP Interest
Expense decrease of 14% to Y569M (expense).
Industry
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
236115 -
New Single-Family Housing Construction (except For-Sale Builders) |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
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Name |
Title |
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Kunihiko Takagiri |
Managing Executive Officer, President of Subsidiary |
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Akihisa Fukuda |
Managing Executive Officer, Director of Business Planning |
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Akito Kataoka |
Managing Executive Officer, Chief Director of Forest Environment,
Director of Forest and Environment |
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Executive President, President, Representative Director |
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Tadashi Ban |
Executive Officer |
Significant Developments
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Topic |
#* |
Most Recent
Headline |
Date |
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1 |
Sumitomo
Forestry Co Ltd to Acquire Stake in Henley Arch Unit Trust and Henley Arch
Pty Ltd |
27-Sep-2013 |
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1 |
9-May-2013 |
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1 |
9-Jul-2013 |
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1 |
9-Jul-2013 |
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1 |
Sumitomo
Forestry Co Ltd Raises Consolidated Mid-year and Full-year Guidance for FY
2014 |
31-Oct-2013 |
* number of significant developments within
the last 12 months
News
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Title |
Date |
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Contracts
for Custom-Made Houses in Japan Slump in Nov. |
10-Dec-2013 |
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Housing
Demand Cooled In October |
8-Nov-2013 |
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Sumitomo
Forestry Starts Solar Power Generation Us... |
8-Nov-2013 |
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Japan
Custom-Built House Orders Plunge in Oct. |
8-Nov-2013 |
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Sumitomo
Forestry Starts Solar Power Generation Using Wooden Mounting System |
7-Nov-2013 |
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Sumitomo
Forestry Custom-Built House Orders Drop in Oct. |
7-Nov-2013 |
Financial Summary
As of 30-Sep-2013
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Key Ratios |
Company |
Industry |
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Current Ratio (MRQ) |
1.36 |
3.18 |
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Quick Ratio (MRQ) |
1.03 |
2.67 |
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Debt to Equity (MRQ) |
0.44 |
1.75 |
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Sales 5 Year Growth |
-0.38 |
12.19 |
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Net Profit Margin (TTM) % |
2.62 |
11.96 |
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Return on Assets (TTM) % |
4.15 |
1.59 |
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Return on Equity (TTM) % |
12.43 |
2.63 |
Stock Snapshot
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Traded: Tokyo Stock
Exchange: 1911 |
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As of 6-Dec-2013 Financials in: JPY |
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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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Sumitomo Forestry Co., Ltd. is a company mainly engaged in forestry business.
Timber and Building Material segment purchases, manufactures, processes and
sells lumber products and building materials. Oversea segment is engaged in
the purchase, manufacture and sale of lumber products and building materials
overseas, as well as the contracted construction and sale of detached houses,
the planting, harvesting and management of forests. Housing segment
constructs, sells, maintains and renovates detached houses, apartment and
condominiums, operates exterior, landscape and greening works. Others segment
operates pay nursing homes, dispatches manpower, develops software,
manufactures and sells agriculture and gardening materials, and involves
leasing business and insurance agency business. On September 30, 2013, it
disposed 85.1% stake in a China-based wholly owned subsidiary. On September
27, 2013, the Company acquired two subsidiaries. For the six months ended 30
September 2013, Sumitomo Forestry Co., Ltd. revenues increased 11% to
Y434.92B. Net income applicable to common stockholders increased from Y3.61B
to Y11.07B. Revenues reflect Timber and Building Materials segment increase
of 14% to Y211.38B, Housing Business segment increase of 7% to Y204.29B. Net
income benefited from NOP Interest Expense decrease of 14% to Y569M (expense). |
More Business Descriptions
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Forestry products company involved in a comprehensive range of
business activities including timberland management, the import and domestic
sale of timber and high-value-added building materials and the construction and
marketing of custom-built houses, office buildings and apartments |
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Imported Timber Products Whslr &
Construction & Marketing of Custom-Built Timber Homes |
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Sumitomo Forestry Co., Ltd. (Sumitomo) is a forestry service provider.
The company offers forest management, timber selling and construction
business. It develops and manufactures a wide range of building materials,
which include structural members, interior materials, and other interior
products. Sumitomo operates forest management and manufactures and sells
timber, chips, wooden products, ordinary and secondary processed plywood,
fiber boards, housing equipment, metal building materials and ceramic
building materials. The company provides building of customized housing, sale
of built houses and also land for housing. It constructs, sells, and rents
apartments and condominiums and also sells interior products. Sumitomo offers
support for the planning, management and operation of real estate.The company operates its business activities
through five segments, namely, Timber and Building Materials, Housing
Business, Real Estate Business, Overseas Business and Other Business.Its Timber and Building Materials business
segment includes processing and sale of aluminum sashes, exterior work, sale
of housing sashes, construction and sale of siding, sale of exterior
products, sale of sashes for housing, sashes for mid-/low-rise buildings,
exterior products, exterior wall construction, house remodeling service,
construction and sales of housing fixtures. The group companies in this area
include Sumitomo Forestry Crest Co., Ltd., Sumitomo Forestry Wood Products
Co., Ltd., Japan Bioenergy Co., Ltd., Sumikyo Wintec Co., Ltd., and
others. During the fiscal year end 2012, Timber and Building Materials
business segment generated revenue of JPY399.8billion, an increase of 2.46%
over the revenue in 2011. The segment accounted for 46.03% of the company’s total revenue in 2012.Sumitomo’s Housing
Business segment operates custom-built detached housing activities,
remodeling and renovating activities and greening business, which include
landscaping and environmental preservation projects. The company operates its
business through its housing brand called Sumitomo Forestry Home houses. It
operates this business segment through Sumitomo Forestry Home Engineering
Co., Ltd., Sumitomo Forestry Landscaping Co., Ltd., Sumitomo Forestry Archi Techno Co., Ltd., and Sumitomo Forestry Home Tech
Co., Ltd. During the fiscal year end 2012, Housing Business segment generated
revenue of JPY374.7billion, an increase of 8.20% over the revenue in 2011.
The segment accounted for 43.14% of the company’s
total revenue in 2012.The company’s Real Estate
business segment provides property development activities such as, consulting
services for utilization of real estate, sales of spec condominiums,
management of condominium leasing and residential care facilities for the
elderly, real estate brokerage and intermediation, and asset and property
management. It operates this segment through Sumitomo Forestry Residential
Co., Ltd., Sumitomo Forestry Home Service Co., Ltd., Sumirin
Life Assist Co., Ltd., Meikan Honchosha
PFI Co., Ltd. During the fiscal year end 2012, Real Estate business segment
generated revenue of JPY44.2billion, a decrease of 13.16% over the revenue in
2011. The segment accounted for 5.08% of the company’s
total revenue in 2012.Its Overseas Business concentrates on vertically
integrated businesses, which consist of plantation forestry, building
materials manufacturing, timber and building materials distribution, and
housing. Sumitomo operates this business segment through Kowa
Lumber Co., Ltd. (Japan), Open Bay Timber Ltd., PT. Mayangkara
Tanaman Industri, PT. Wana Subur Lestari,
Sumitomo Forestry NZ Ltd., Shouei Furniture Co.,
Ltd., Sumitomo Forestry (Singapore) Ltd., Cascadia
Resort Communities, LLC. During the fiscal year end 2012, Overseas Business
segment generated revenue of JPY37.6billion, an increase of 13.25% over the
revenue in 2011. The segment accounted for 4.32% of the company’s
total revenue in 2012.Sumitomo’s Other Business provides property insurance
agency services and support to group companies through the development of IT
systems. The company also offers leasing operations and the manufacture and
sale of farming and gardening materials. It operates this business segment
through Sumitomo Forestry Information Systems Co., Ltd., Sumirin
Agro-Products Co., Ltd., Sumirin Business Service
Co., Ltd., Sumirin Enterprises Co., Ltd., Kawanokita Development Co., Ltd. During the fiscal year
2012, Other Business segment generated revenue of JPY12.1billion, a decrease
of 10.37% over the revenue in 2011. The segment accounted for 1.39% of the company’s total revenue in 2012.In June 2012, Sumitomo
has announced that it has established a wholly owned subsidiary, Sumitomo
Forestry (Shanghai) Ltd., which provides import and export of lumber building
material, wholesale and housing business in China market, and offers
consulting services in Shanghai, China. |
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Sumitomo Forestry Co., Ltd. (Sumitomo) is a forest management, timber
and construction company, based in Japan. The company operates through the
timber and building materials; housing; forestry and environment; real
estate; and overseas businesses. It develops and produces a wide array of
building materials, including structural members, interior materials, and
other special interior products. The company has overseas operations such as
sales and distributes bases for timber and building materials; contract
construction of detached houses, etc.; sales of spec homes; forestation and
sales of plantation timber. It builds wooden houses. The company offers
support for the planning, management and operation of real estate. Sumitomo
is headquartered in Tokyo, Japan.The company
reported revenues of (Yen) JPY 845,184.00 million during the fiscal year
ended March 2013, an increase of 1.60% over 2012. The operating profit of the
company was JPY 24,431.00 million during the fiscal year 2013, an increase of
53.09% over 2012. The net profit of the company was JPY 15,923.00 million
during the fiscal year 2013, an increase of 71.75% over 2012. |
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All Other Wood Product Manufacturing |
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Company |
Percentage
Owned |
Country |
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Sumitomo Forestry (Singapore) Ltd |
100% |
SINGAPORE |
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Sumitomo Forestry NZ Limited |
100% |
NEW ZEALAND |
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Nelson Pine Industries Limited |
100% |
NEW ZEALAND |
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Sumitomo Forestry Crest Co Ltd |
100% |
JAPAN |
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Sumitomo Forestry Seattle Inc |
100% |
USA |
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Alpine MDF Industries Pty Ltd |
100% |
AUSTRALIA |
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Sumitomo Forestry Landscaping Co Ltd |
100% |
JAPAN |
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Sumitomo Forestry Home Tech Co Ltd |
100% |
JAPAN |
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Sumitomo Forestry Home Service Co Ltd |
100% |
JAPAN |
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Sumitomo Forestry Residential Co Ltd |
100% |
JAPAN |
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Sumirin Agro-Products Co Ltd |
100% |
JAPAN |
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Kawanokita Development Co Ltd |
100% |
JAPAN |
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Sumitomo Forestry Information Systems Co Ltd |
100% |
JAPAN |
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Sumirin Business Service Co Ltd |
100% |
JAPAN |
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Sumirin Enterprises Co Ltd |
100% |
JAPAN |
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Rimba Partikel
Indonesia, PT |
100% |
INDONESIA |
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Kutai Timber Indonesia, PT |
99.8% |
INDONESIA |
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AST Indonesia, PT |
100% |
INDONESIA |
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Sumitomo Forestry (Dalian) Ltd |
100% |
PEOPLE'S REPUBLIC OF CHINA |
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Sumitomo Forestry Home Engineering Co Ltd |
100% |
JAPAN |
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Sumirin Life Assist Co Ltd |
100% |
JAPAN |
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Corporate Family
Total Corporate Family Members: 43
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Chiyoda-Ku, Tokyo |
Japan |
Residential and Commercial Building Construction |
10,312.6 |
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Branch |
Chiyoda-Ku |
Japan |
Residential and Commercial Building Construction |
10,186.6 |
14,890 |
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Subsidiary |
Kokopo, East New Britain |
Papua New Guinea |
Forestry and Logging |
|
600 |
|
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Subsidiary |
Kendal |
Indonesia |
Wood Product Manufacturing |
|
350 |
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Subsidiary |
Yokohama, Kanagawa |
Japan |
Nursing and Residential Care |
|
300 |
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Subsidiary |
Fuxin, Liaoning |
China |
Wood Product Manufacturing |
|
300 |
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Subsidiary |
Nelson |
New Zealand |
Wood Product Manufacturing |
12.1 |
170 |
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Subsidiary |
Wangaratta, VIC |
Australia |
Furniture Manufacturing |
|
115 |
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Subsidiary |
Tokyo |
Japan |
Building and Dwelling Services |
|
100 |
|
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Subsidiary |
Okayama |
Japan |
Construction and Hardware Materials Wholesale |
|
56 |
|
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Subsidiary |
Ushiku, Ibaraki |
Japan |
Wood Product Manufacturing |
|
50 |
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Subsidiary |
Roslyn, WA |
United States |
Crop and Animal Production |
0.3 |
40 |
|
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Subsidiary |
Ho Chi Minh City |
Viet Nam |
Wood Product Manufacturing |
|
15 |
|
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Subsidiary |
Singapore |
Singapore |
Construction and Hardware Materials Wholesale |
127.6 |
10 |
|
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Subsidiary |
Tokyo |
Japan |
Construction and Hardware Materials Wholesale |
|
10 |
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Subsidiary |
Bellevue, WA |
United States |
Residential and Commercial Building Construction |
1.1 |
9 |
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Subsidiary |
Nelson |
New Zealand |
Construction and Hardware Materials Wholesale |
1.6 |
3 |
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Subsidiary |
Jakarta |
Indonesia |
Crop and Animal Production |
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Facility |
Probolinggo, Jawa Timur |
Indonesia |
Wood Product Manufacturing |
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Subsidiary |
Nagoya, Aichi |
Japan |
Home and Garden Retail |
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Subsidiary |
Dalian, Liaoning |
China |
Construction and Hardware Materials Wholesale |
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Subsidiary |
Sapporo, Hokkaido |
Japan |
Residential and Commercial Building Construction |
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Subsidiary |
Niihama, Ehime |
Japan |
Electricity Generation and Distribution |
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Subsidiary |
Suzuka, Mie |
Japan |
Trucking |
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Subsidiary |
Chiba |
Japan |
Residential and Commercial Building Construction |
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Subsidiary |
Nagoya, Aichi |
Japan |
Architecture and Engineering |
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Subsidiary |
Sapporo, Hokkaido |
Japan |
Construction and Hardware Materials Wholesale |
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Subsidiary |
Shanghai |
China |
Wood Product Manufacturing |
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Subsidiary |
Semarang, Central Java |
Indonesia |
Furniture Manufacturing |
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Subsidiary |
Rayong |
Thailand |
Home Furnishings Wholesale |
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Subsidiary |
Dalian, Liaoning |
China |
Wood Product Manufacturing |
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Subsidiary |
Nagoya, Aichi |
Japan |
Wood Product Manufacturing |
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Subsidiary |
Chiba |
Japan |
Consulting Services |
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Subsidiary |
Tokyo |
Japan |
Insurance Agents |
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Subsidiary |
Tokyo |
Japan |
Residential and Commercial Building Construction |
|
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|
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Subsidiary |
Tokyo |
Japan |
Real Estate Agents and Brokers |
|
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Subsidiary |
Tokyo |
Japan |
Real Estate Agents and Brokers |
|
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|
Subsidiary |
Dalian, Liaoning |
China |
Data Processing |
|
|
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Residential and Commercial Building Construction |
646.8 |
|
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|
Subsidiary |
Shinjuku-Ku, Tokyo |
Japan |
Construction and Hardware Materials Wholesale |
223.0 |
|
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Subsidiary |
Koto-Ku, Tokyo |
Japan |
Construction and Hardware Materials Wholesale |
76.9 |
|
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Subsidiary |
Mount Waverley, VIC |
Australia |
Residential and Commercial Building Construction |
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Subsidiary |
Shinjuku-Ku, Tokyo |
Japan |
Employment Services |
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Competitors Report
|
CompanyName |
Location |
Employees |
Ownership |
|
Daiwa House Industry Co Ltd |
Osaka-Shi, Japan |
30,361 |
Public |
|
Haseko Corporation |
Minato-Ku, Japan |
4,640 |
Public |
|
Misawa Homes Co Ltd |
Shinjuku-Ku, Japan |
9,306 |
Public |
|
Mitsui Engineering & Shipbuilding Co Ltd |
Chuo-Ku, Japan |
9,881 |
Public |
|
Sekisui House Ltd |
Osaka-Shi, Japan |
21,476 |
Public |
|
Skanska AB |
Solna, Sweden |
56,736 |
Public |
|
Sojitz Corp |
Chiyoda-Ku, Japan |
15,963 |
Public |
|
Tenon Ltd |
Auckland, New Zealand |
1,555 |
Public |
Executives Report
Board of Directors
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Chairman of the Board, Representative Director |
Chairman |
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Executives
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Managing Executive Officer, President of Subsidiary |
President |
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Executive Officer, Deputy Chief Director of Timber & Building
Materials Business, Deputy Chief Director of Overseas Business, General Manager
of Subsidiaries |
Division Head Executive |
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Manager of Business Planning Group |
Division Head Executive |
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Executive Officer, President of Subsidiary |
Division Head Executive |
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Managing Executive Officer, Director of Business Planning |
Managing Director |
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Senior Managing Executive Officer, Chief Director of Housing Business,
Representative Director |
Managing Director |
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Managing Executive Officer, Chief Director of Forest Environment,
Director of Forest and Environment |
Managing Director |
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Managing Executive Officer, Chief Director of Overseas Business |
Managing Director |
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Managing Executive Officer, Chief Director of Lifestyle Service,
Director |
Managing Director |
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Managing Executive Officer, Director |
Managing Director |
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Managing Executive Officer-General Admin, Personal, Corporate
Communications & Internal Audit, Board Member |
Managing Director |
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Managing Executive Officer, Chief Director of Lumber Business |
Managing Director |
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Managing Executive Officer, Deputy Chief Director of Housing Business,
Director of Custom-Built Housing, Director |
Managing Director |
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Managing Executive Officer |
Managing Director |
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Executive Officer |
Senior Management (General) |
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Executive Officer |
Senior Management (General) |
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Executive Officer |
Senior Management (General) |
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Executive Officer |
Senior Management (General) |
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Executive Officer, Deputy Chief Director of Housing Business, Director
of Renovation & Leasing |
Administration Executive |
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|
Executive Officer, Deputy Chief Director of Timber & Building
Materials Business, Director of Domestic Timber & Building Materials
Business |
Administration Executive |
|
|
||||||||
|
Statutory Auditor |
Accounting Executive |
|
|
||||||||
|
Statutory Auditor |
Accounting Executive |
|
|
||||||||
|
Senior Statutory Auditor |
Accounting Executive |
|
|
||||||||
|
Statutory Auditor |
Accounting Executive |
|
|
||||||||
|
Statutory Auditor |
Accounting Executive |
|
|
||||||||
|
Executive President, President, Representative Director |
Other |
|
|
||||||||
|
||||||||||||
|
Executive Vice President, Representative Director |
Other |
|
|
||||||||
|
||||||||||||
|
Sumitomo Forestry Co Ltd Raises Consolidated Mid-year and Full-year
Guidance for FY 2014 Oct 31, 2013
|
|
Sumitomo Forestry Co Ltd to Acquire Stake in Henley Arch Unit Trust
and Henley Arch Pty Ltd Sep 27, 2013
|
|
R&I Affirms Sumitomo Forestry Co Ltd 's Rating at "A";
Rating Outlook Stable Aug 29, 2013
|
|
Sumitomo Forestry Co Ltd Announces Conversion Price for 2018 Due Euro
Yen Denominated Convertible Corporate Bonds with Warrants Jul 09, 2013
|
|
Sumitomo Forestry Co Ltd to Issue 2018 Due Euro Yen Dominated Convertible
Corporate Bonds with Warrants Jul 09, 2013
|
|
Sumitomo Forestry Co Ltd to Issue Year-end Dividend for FY 2013 May 09, 2013
|
|
Sumitomo Forestry Co Ltd to Divest Stake in Subsidiary May 09, 2013
|
News
Annual
Income Statement
Financials in: USD (mil)
Except for share items (millions) and per
share items (actual units)
Financial Glossary
|
|
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 |
10,186.6 |
10,535.2 |
9,306.6 |
7,789.1 |
8,198.4 |
|
Revenue |
10,186.6 |
10,535.2 |
9,306.6 |
7,789.1 |
8,198.4 |
|
Total Revenue |
10,186.6 |
10,535.2 |
9,306.6 |
7,789.1 |
8,198.4 |
|
|
|
|
|
|
|
|
Cost of Revenue |
8,481.9 |
8,801.8 |
7,759.5 |
6,452.0 |
6,874.1 |
|
Cost of Revenue, Total |
8,481.9 |
8,801.8 |
7,759.5 |
6,452.0 |
6,874.1 |
|
Gross Profit |
1,704.7 |
1,733.4 |
1,547.0 |
1,337.1 |
1,324.3 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
804.8 |
812.2 |
782.8 |
718.5 |
702.3 |
|
Labor & Related Expense |
578.3 |
662.2 |
583.0 |
497.8 |
546.4 |
|
Total Selling/General/Administrative Expenses |
1,383.1 |
1,474.4 |
1,365.8 |
1,216.3 |
1,248.8 |
|
Research & Development |
16.3 |
16.0 |
15.1 |
15.9 |
11.7 |
|
Amortization of Acquisition Costs |
- |
- |
- |
- |
0.0 |
|
Depreciation/Amortization |
- |
- |
- |
- |
0.0 |
|
Litigation |
- |
- |
0.0 |
5.0 |
0.0 |
|
Impairment-Assets Held for Use |
3.7 |
41.1 |
10.8 |
25.1 |
7.7 |
|
Impairment-Assets Held for Sale |
2.8 |
0.9 |
11.9 |
1.9 |
22.0 |
|
Other Unusual Expense (Income) |
4.3 |
-1.1 |
22.9 |
-41.4 |
3.3 |
|
Unusual Expense (Income) |
10.8 |
40.9 |
45.6 |
-9.4 |
33.0 |
|
Total Operating Expense |
9,892.1 |
10,333.1 |
9,186.0 |
7,674.8 |
8,167.6 |
|
|
|
|
|
|
|
|
Operating Income |
294.5 |
202.1 |
120.6 |
114.3 |
30.8 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-15.3 |
-16.4 |
-15.4 |
-12.5 |
-13.6 |
|
Interest Expense, Net Non-Operating |
-15.3 |
-16.4 |
-15.4 |
-12.5 |
-13.6 |
|
Interest Income -
Non-Operating |
4.6 |
3.4 |
2.6 |
5.6 |
6.2 |
|
Investment Income -
Non-Operating |
21.1 |
16.0 |
0.5 |
-3.8 |
-8.2 |
|
Interest/Investment Income - Non-Operating |
25.8 |
19.4 |
3.1 |
1.9 |
-2.0 |
|
Interest Income (Expense) - Net Non-Operating Total |
10.5 |
3.0 |
-12.3 |
-10.7 |
-15.5 |
|
Gain (Loss) on Sale of Assets |
0.7 |
3.7 |
4.9 |
0.7 |
-4.7 |
|
Other Non-Operating Income (Expense) |
9.5 |
15.1 |
15.2 |
9.5 |
8.9 |
|
Other, Net |
9.5 |
15.1 |
15.2 |
9.5 |
8.9 |
|
Income Before Tax |
315.1 |
223.9 |
128.5 |
113.9 |
19.5 |
|
|
|
|
|
|
|
|
Total Income Tax |
124.6 |
106.7 |
69.2 |
88.5 |
9.7 |
|
Income After Tax |
190.6 |
117.2 |
59.3 |
25.3 |
9.8 |
|
|
|
|
|
|
|
|
Minority Interest |
1.3 |
0.2 |
1.1 |
0.3 |
0.4 |
|
Net Income Before Extraord Items |
191.9 |
117.4 |
60.4 |
25.6 |
10.2 |
|
Net Income |
191.9 |
117.4 |
60.4 |
25.6 |
10.2 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
- |
- |
0.0 |
- |
0.0 |
|
Total Adjustments to Net Income |
- |
- |
0.0 |
- |
0.0 |
|
Income Available to Common Excl Extraord
Items |
191.9 |
117.4 |
60.4 |
25.6 |
10.2 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
191.9 |
117.4 |
60.4 |
25.6 |
10.2 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
177.1 |
177.1 |
177.1 |
177.1 |
177.2 |
|
Basic EPS Excl Extraord Items |
1.08 |
0.66 |
0.34 |
0.14 |
0.06 |
|
Basic/Primary EPS Incl Extraord
Items |
1.08 |
0.66 |
0.34 |
0.14 |
0.06 |
|
Dilution Adjustment |
- |
- |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
191.9 |
117.4 |
60.4 |
25.6 |
10.2 |
|
Diluted Weighted Average Shares |
177.1 |
177.1 |
177.1 |
177.1 |
177.2 |
|
Diluted EPS Excl Extraord Items |
1.08 |
0.66 |
0.34 |
0.14 |
0.06 |
|
Diluted EPS Incl Extraord
Items |
1.08 |
0.66 |
0.34 |
0.14 |
0.06 |
|
Dividends per Share - Common Stock Primary Issue |
0.20 |
0.19 |
0.18 |
0.16 |
0.15 |
|
Gross Dividends - Common Stock |
36.3 |
33.7 |
31.0 |
28.6 |
26.5 |
|
Interest Expense, Supplemental |
15.3 |
16.4 |
15.4 |
12.5 |
13.6 |
|
Depreciation, Supplemental |
108.2 |
107.3 |
98.5 |
91.5 |
84.4 |
|
Total Special Items |
13.3 |
39.9 |
41.9 |
-7.9 |
40.7 |
|
Normalized Income Before Tax |
328.5 |
263.8 |
170.4 |
106.0 |
60.2 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
4.0 |
17.7 |
21.9 |
-3.6 |
18.8 |
|
Inc Tax Ex Impact of Sp Items |
128.6 |
124.5 |
91.1 |
85.0 |
28.6 |
|
Normalized Income After Tax |
199.9 |
139.3 |
79.3 |
21.0 |
31.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
201.2 |
139.6 |
80.4 |
21.3 |
32.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.14 |
0.79 |
0.45 |
0.12 |
0.18 |
|
Diluted Normalized EPS |
1.14 |
0.79 |
0.45 |
0.12 |
0.18 |
|
Amort of Acquisition Costs, Supplemental |
3.2 |
2.7 |
1.3 |
2.3 |
2.9 |
|
Research & Development Exp, Supplemental |
16.3 |
16.0 |
15.1 |
15.9 |
11.7 |
|
Reported Operating Profit |
305.3 |
243.0 |
166.2 |
104.9 |
68.0 |
|
Reported Ordinary Profit |
325.2 |
262.3 |
165.8 |
101.8 |
61.3 |
|
Normalized EBIT |
305.3 |
243.0 |
166.2 |
104.9 |
63.9 |
|
Normalized EBITDA |
416.7 |
353.0 |
265.9 |
198.6 |
151.1 |
|
Current Tax - Total |
127.0 |
123.0 |
- |
- |
- |
|
Current Tax - Total |
127.0 |
123.0 |
- |
- |
- |
|
Deferred Tax - Total |
-2.5 |
-16.2 |
- |
- |
- |
|
Deferred Tax - Total |
-2.5 |
-16.2 |
- |
- |
- |
|
Income Tax - Total |
124.6 |
106.7 |
- |
- |
- |
|
Interest Cost - Domestic |
11.2 |
12.2 |
11.5 |
11.6 |
9.8 |
|
Service Cost - Domestic |
33.7 |
33.1 |
30.5 |
33.0 |
31.5 |
|
Prior Service Cost - Domestic |
0.0 |
0.6 |
1.6 |
-22.3 |
0.1 |
|
Expected Return on Assets - Domestic |
-13.2 |
-18.7 |
-17.5 |
-13.6 |
-12.8 |
|
Actuarial Gains and Losses - Domestic |
-4.2 |
62.3 |
32.6 |
-25.4 |
49.6 |
|
Transition Costs - Domestic |
-0.2 |
-2.0 |
0.0 |
-18.4 |
0.0 |
|
Other Pension, Net - Domestic |
8.5 |
8.7 |
6.2 |
1.2 |
5.8 |
|
Domestic Pension Plan Expense |
35.6 |
96.3 |
64.9 |
-33.9 |
83.9 |
|
Total Pension Expense |
35.6 |
96.3 |
64.9 |
-33.9 |
83.9 |
|
Discount Rate - Domestic |
1.60% |
1.80% |
2.10% |
2.20% |
2.10% |
|
Expected Rate of Return - Domestic |
2.60% |
3.60% |
3.60% |
3.60% |
3.60% |
|
Total Plan Interest Cost |
11.2 |
12.2 |
11.5 |
11.6 |
9.8 |
|
Total Plan Service Cost |
33.7 |
33.1 |
30.5 |
33.0 |
31.5 |
|
Total Plan Expected Return |
-13.2 |
-18.7 |
-17.5 |
-13.6 |
-12.8 |
|
Total Plan Other Expense |
8.5 |
8.7 |
6.2 |
1.2 |
5.8 |
Annual
Balance Sheet
Financials in: USD (mil)
Financial Glossary
|
|
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 |
596.8 |
787.4 |
671.1 |
564.1 |
241.5 |
|
Short Term Investments |
116.9 |
182.1 |
241.3 |
203.3 |
174.1 |
|
Cash and Short Term Investments |
713.7 |
969.5 |
912.4 |
767.5 |
415.6 |
|
Accounts Receivable -
Trade, Gross |
1,338.5 |
1,515.8 |
1,429.2 |
1,149.7 |
1,124.4 |
|
Provision for Doubtful
Accounts |
-13.7 |
-16.1 |
-15.3 |
-8.9 |
-7.5 |
|
Trade Accounts Receivable - Net |
1,324.7 |
1,499.7 |
1,413.8 |
1,140.7 |
1,116.9 |
|
Other Receivables |
901.1 |
585.4 |
563.7 |
465.1 |
438.8 |
|
Total Receivables, Net |
2,225.9 |
2,085.1 |
1,977.5 |
1,605.8 |
1,555.7 |
|
Inventories - Finished Goods |
169.4 |
185.3 |
167.0 |
131.0 |
155.4 |
|
Inventories - Work In Progress |
300.2 |
358.9 |
390.5 |
358.6 |
316.2 |
|
Inventories - Raw Materials |
54.7 |
55.1 |
48.9 |
41.8 |
41.0 |
|
Inventories - Other |
296.5 |
423.4 |
380.0 |
281.8 |
218.6 |
|
Total Inventory |
820.8 |
1,022.7 |
986.4 |
813.2 |
731.2 |
|
Deferred Income Tax - Current Asset |
85.8 |
96.8 |
95.5 |
67.5 |
67.3 |
|
Other Current Assets |
59.4 |
61.3 |
51.4 |
39.8 |
47.3 |
|
Other Current Assets, Total |
145.3 |
158.1 |
146.9 |
107.3 |
114.6 |
|
Total Current Assets |
3,905.7 |
4,235.3 |
4,023.1 |
3,293.8 |
2,817.0 |
|
|
|
|
|
|
|
|
Buildings |
548.6 |
604.4 |
618.3 |
545.0 |
473.7 |
|
Land/Improvements |
250.5 |
297.1 |
314.3 |
285.7 |
286.5 |
|
Machinery/Equipment |
650.0 |
612.1 |
658.0 |
609.6 |
503.1 |
|
Construction in
Progress |
14.3 |
72.5 |
36.9 |
4.7 |
29.7 |
|
Other
Property/Plant/Equipment |
288.2 |
321.6 |
294.6 |
242.7 |
202.1 |
|
Property/Plant/Equipment - Gross |
1,751.7 |
1,907.8 |
1,922.1 |
1,687.7 |
1,495.3 |
|
Accumulated Depreciation |
-838.7 |
-868.2 |
-865.1 |
-736.6 |
-602.8 |
|
Property/Plant/Equipment - Net |
913.0 |
1,039.5 |
1,057.0 |
951.1 |
892.4 |
|
Goodwill, Net |
7.8 |
11.2 |
2.4 |
3.3 |
7.5 |
|
Intangibles, Net |
89.5 |
90.6 |
82.9 |
67.7 |
57.6 |
|
LT Investment - Affiliate Companies |
110.0 |
103.3 |
112.5 |
106.0 |
- |
|
LT Investments - Other |
523.3 |
485.2 |
472.2 |
440.8 |
355.1 |
|
Long Term Investments |
633.3 |
588.5 |
584.7 |
546.8 |
355.1 |
|
Note Receivable - Long Term |
13.3 |
24.8 |
30.3 |
33.1 |
86.6 |
|
Pension Benefits - Overfunded |
- |
- |
0.0 |
17.1 |
0.0 |
|
Deferred Income Tax - Long Term Asset |
14.3 |
15.2 |
16.3 |
12.2 |
17.8 |
|
Other Long Term Assets |
247.2 |
106.2 |
108.4 |
102.1 |
96.5 |
|
Other Long Term Assets, Total |
261.5 |
121.4 |
124.7 |
131.3 |
114.3 |
|
Total Assets |
5,824.0 |
6,111.5 |
5,905.1 |
5,027.2 |
4,330.6 |
|
|
|
|
|
|
|
|
Accounts Payable |
1,112.3 |
1,190.5 |
1,122.3 |
926.3 |
750.4 |
|
Accrued Expenses |
101.0 |
109.6 |
100.3 |
78.9 |
75.8 |
|
Notes Payable/Short Term Debt |
276.3 |
170.8 |
140.2 |
130.6 |
100.3 |
|
Current Portion - Long Term Debt/Capital Leases |
11.3 |
96.0 |
97.3 |
10.0 |
12.4 |
|
Customer Advances |
450.1 |
468.1 |
452.8 |
332.6 |
344.5 |
|
Income Taxes Payable |
59.4 |
69.8 |
83.4 |
23.6 |
13.2 |
|
Other Payables |
690.5 |
696.1 |
689.5 |
653.1 |
534.9 |
|
Deferred Income Tax - Current Liability |
- |
- |
0.1 |
0.1 |
0.1 |
|
Other Current Liabilities |
234.1 |
287.4 |
255.5 |
193.2 |
158.2 |
|
Other Current liabilities, Total |
1,434.0 |
1,521.4 |
1,481.2 |
1,202.6 |
1,050.9 |
|
Total Current Liabilities |
2,934.9 |
3,088.2 |
2,941.3 |
2,348.4 |
1,989.9 |
|
|
|
|
|
|
|
|
Long Term Debt |
416.5 |
525.4 |
568.3 |
545.9 |
366.0 |
|
Capital Lease Obligations |
31.7 |
32.3 |
29.5 |
28.3 |
18.7 |
|
Total Long Term Debt |
448.2 |
557.7 |
597.8 |
574.1 |
384.7 |
|
Total Debt |
735.8 |
824.5 |
835.3 |
714.7 |
497.4 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
108.4 |
88.8 |
106.0 |
100.1 |
30.3 |
|
Deferred Income Tax |
108.4 |
88.8 |
106.0 |
100.1 |
30.3 |
|
Minority Interest |
8.1 |
2.5 |
2.7 |
3.7 |
1.4 |
|
Reserves |
23.9 |
27.7 |
28.7 |
14.0 |
9.0 |
|
Pension Benefits - Underfunded |
104.2 |
122.8 |
75.0 |
59.4 |
187.8 |
|
Other Long Term Liabilities |
150.5 |
171.0 |
188.4 |
187.4 |
147.7 |
|
Other Liabilities, Total |
278.6 |
321.4 |
292.0 |
260.8 |
344.5 |
|
Total Liabilities |
3,778.2 |
4,058.5 |
3,939.8 |
3,287.1 |
2,750.7 |
|
|
|
|
|
|
|
|
Common Stock |
294.1 |
335.9 |
333.9 |
296.1 |
280.2 |
|
Common Stock |
294.1 |
335.9 |
333.9 |
296.1 |
280.2 |
|
Additional Paid-In Capital |
285.6 |
326.2 |
324.2 |
287.6 |
272.1 |
|
Retained Earnings (Accumulated Deficit) |
1,355.0 |
1,386.4 |
1,298.1 |
1,124.4 |
1,066.6 |
|
Treasury Stock - Common |
-2.9 |
-3.3 |
-3.2 |
-2.8 |
-2.6 |
|
Unrealized Gain (Loss) |
128.9 |
69.6 |
58.8 |
59.9 |
23.9 |
|
Translation Adjustment |
-17.6 |
-64.2 |
-48.3 |
-25.4 |
-60.4 |
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Other Comprehensive Income |
2.6 |
2.3 |
1.9 |
0.3 |
0.3 |
|
Other Equity, Total |
-14.9 |
-61.9 |
-46.5 |
-25.2 |
-60.1 |
|
Total Equity |
2,045.8 |
2,053.0 |
1,965.3 |
1,740.0 |
1,580.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’
Equity |
5,824.0 |
6,111.5 |
5,905.1 |
5,027.2 |
4,330.7 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
177.1 |
177.1 |
177.1 |
177.1 |
177.1 |
|
Total Common Shares Outstanding |
177.1 |
177.1 |
177.1 |
177.1 |
177.1 |
|
Treasury Shares - Common Stock Primary Issue |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Employees |
14,890 |
14,736 |
13,778 |
13,601 |
12,629 |
|
Number of Common Shareholders |
11,170 |
11,687 |
11,739 |
11,879 |
11,915 |
|
Deferred Revenue - Current |
450.1 |
468.1 |
452.8 |
332.6 |
344.5 |
|
Total Long Term Debt, Supplemental |
328.2 |
606.6 |
652.4 |
493.6 |
373.1 |
|
Long Term Debt Maturing within 1 Year |
71.1 |
81.2 |
84.1 |
1.2 |
7.2 |
|
Long Term Debt Maturing in Year 2 |
64.9 |
127.0 |
80.5 |
71.8 |
13.7 |
|
Long Term Debt Maturing in Year 3 |
74.4 |
193.0 |
126.6 |
69.3 |
66.1 |
|
Long Term Debt Maturing in Year 4 |
15.5 |
82.3 |
187.0 |
109.8 |
63.5 |
|
Long Term Debt Maturing in Year 5 |
25.8 |
75.9 |
77.2 |
163.3 |
101.8 |
|
Long Term Debt Maturing in 2-3 Years |
139.2 |
320.0 |
207.1 |
141.1 |
79.8 |
|
Long Term Debt Maturing in 4-5 Years |
41.2 |
158.2 |
264.1 |
273.2 |
165.3 |
|
Long Term Debt Matur. in Year 6 & Beyond |
76.6 |
47.2 |
97.1 |
78.1 |
120.8 |
|
Total Capital Leases, Supplemental |
44.6 |
47.1 |
42.7 |
37.0 |
23.9 |
|
Capital Lease Payments Due in Year 1 |
12.9 |
14.8 |
13.2 |
8.7 |
5.2 |
|
Capital Lease Payments Due in Year 2 |
15.6 |
19.7 |
15.0 |
13.5 |
7.2 |
|
Capital Lease Payments Due in Year 3 |
10.6 |
7.2 |
8.4 |
9.6 |
7.2 |
|
Capital Lease Payments Due in Year 4 |
4.2 |
3.7 |
3.7 |
4.0 |
3.6 |
|
Capital Lease Payments Due in Year 5 |
1.0 |
1.2 |
1.0 |
1.0 |
0.6 |
|
Capital Lease Payments Due in 2-3 Years |
26.2 |
26.9 |
23.4 |
23.1 |
14.5 |
|
Capital Lease Payments Due in 4-5 Years |
5.2 |
4.8 |
4.7 |
5.0 |
4.2 |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.3 |
0.6 |
1.4 |
0.1 |
0.1 |
|
Pension Obligation - Domestic |
592.9 |
638.4 |
571.7 |
489.7 |
545.4 |
|
Plan Assets - Domestic |
490.0 |
516.7 |
497.5 |
449.1 |
359.0 |
|
Funded Status - Domestic |
-102.9 |
-121.8 |
-74.2 |
-40.6 |
-186.4 |
|
Total Funded Status |
-102.9 |
-121.8 |
-74.2 |
-40.6 |
-186.4 |
|
Discount Rate - Domestic |
1.60% |
1.80% |
2.10% |
2.20% |
2.10% |
|
Expected Rate of Return - Domestic |
2.60% |
3.60% |
3.60% |
3.60% |
3.60% |
|
Accrued Liabilities - Domestic |
-102.9 |
-121.8 |
-74.2 |
-57.7 |
-186.4 |
|
Other Assets, Net - Domestic |
- |
0.0 |
0.0 |
17.1 |
0.0 |
|
Net Assets Recognized on Balance Sheet |
-102.9 |
-121.8 |
-74.2 |
-40.6 |
-186.4 |
|
Total Plan Obligations |
592.9 |
638.4 |
571.7 |
489.7 |
545.4 |
|
Total Plan Assets |
490.0 |
516.7 |
497.5 |
449.1 |
359.0 |
Annual
Cash Flows
Financials in: USD (mil)
Financial Glossary
|
|
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 |
315.1 |
223.9 |
128.5 |
113.9 |
19.5 |
|
Depreciation |
108.2 |
107.3 |
98.5 |
91.5 |
84.4 |
|
Depreciation/Depletion |
108.2 |
107.3 |
98.5 |
91.5 |
84.4 |
|
Amortization of Acquisition Costs |
3.2 |
2.7 |
1.3 |
2.3 |
2.9 |
|
Amortization |
3.2 |
2.7 |
1.3 |
2.3 |
2.9 |
|
Unusual Items |
5.5 |
39.5 |
22.7 |
24.4 |
28.1 |
|
Equity in Net Earnings (Loss) |
1.7 |
4.0 |
9.1 |
24.1 |
5.7 |
|
Other Non-Cash Items |
-15.3 |
43.9 |
66.0 |
-148.3 |
38.4 |
|
Non-Cash Items |
-8.1 |
87.3 |
97.8 |
-99.8 |
72.3 |
|
Accounts Receivable |
6.9 |
-79.2 |
-144.0 |
39.3 |
78.0 |
|
Inventories |
125.4 |
10.9 |
-20.1 |
62.9 |
-97.5 |
|
Other Assets |
-59.3 |
20.5 |
-39.9 |
-31.7 |
58.2 |
|
Accounts Payable |
138.0 |
76.9 |
23.6 |
268.8 |
-205.3 |
|
Accrued Expenses |
5.7 |
9.0 |
11.5 |
-1.3 |
-1.9 |
|
Other Liabilities |
47.3 |
20.1 |
81.6 |
-36.8 |
-59.9 |
|
Other Operating Cash Flow |
-129.1 |
-139.1 |
-34.4 |
-8.4 |
-31.9 |
|
Changes in Working Capital |
134.9 |
-80.9 |
-121.6 |
292.8 |
-260.3 |
|
Cash from Operating Activities |
553.3 |
340.3 |
204.4 |
400.7 |
-81.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-80.7 |
-132.4 |
-136.1 |
-111.9 |
-238.1 |
|
Purchase/Acquisition of Intangibles |
-30.4 |
-35.3 |
-28.9 |
-17.3 |
-20.0 |
|
Capital Expenditures |
-111.1 |
-167.7 |
-165.0 |
-129.2 |
-258.1 |
|
Acquisition of Business |
- |
-25.1 |
0.0 |
0.3 |
0.0 |
|
Sale of Business |
- |
- |
3.7 |
0.0 |
- |
|
Sale of Fixed Assets |
30.7 |
32.6 |
20.3 |
22.0 |
29.6 |
|
Sale/Maturity of Investment |
684.7 |
236.6 |
125.8 |
19.3 |
8.4 |
|
Investment, Net |
-33.2 |
-48.6 |
-1.9 |
10.0 |
-21.7 |
|
Purchase of Investments |
-909.1 |
-443.2 |
-138.6 |
-131.1 |
-40.3 |
|
Other Investing Cash Flow |
-7.5 |
-1.3 |
1.1 |
2.9 |
-7.2 |
|
Other Investing Cash Flow Items, Total |
-234.4 |
-249.0 |
10.3 |
-76.5 |
-31.2 |
|
Cash from Investing Activities |
-345.4 |
-416.7 |
-154.6 |
-205.7 |
-289.2 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
8.9 |
0.0 |
-0.1 |
2.5 |
0.5 |
|
Financing Cash Flow Items |
8.9 |
0.0 |
-0.1 |
2.5 |
0.5 |
|
Cash Dividends Paid - Common |
-32.0 |
-33.6 |
-31.0 |
-28.6 |
-26.5 |
|
Total Cash Dividends Paid |
-32.0 |
-33.6 |
-31.0 |
-28.6 |
-26.5 |
|
Short Term Debt, Net |
-4.6 |
41.5 |
12.8 |
9.5 |
14.6 |
|
Long Term Debt Issued |
67.9 |
40.8 |
39.0 |
182.0 |
298.3 |
|
Long Term Debt
Reduction |
-104.1 |
-119.9 |
-16.4 |
-41.1 |
-46.2 |
|
Long Term Debt, Net |
-36.2 |
-79.1 |
22.6 |
140.8 |
252.1 |
|
Issuance (Retirement) of Debt, Net |
-40.8 |
-37.5 |
35.4 |
150.3 |
266.7 |
|
Cash from Financing Activities |
-63.9 |
-71.2 |
4.3 |
124.2 |
240.8 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1.5 |
-1.1 |
-8.4 |
13.0 |
-7.1 |
|
Net Change in Cash |
142.4 |
-148.7 |
45.7 |
332.2 |
-136.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
769.4 |
957.2 |
836.3 |
438.9 |
542.1 |
|
Net Cash - Ending Balance |
911.9 |
808.5 |
882.0 |
771.0 |
405.3 |
|
Cash Interest Paid |
15.9 |
17.1 |
14.9 |
12.6 |
11.7 |
|
Cash Taxes Paid |
130.1 |
138.4 |
35.6 |
8.8 |
50.2 |
Annual
Income Statement
Financials in: USD (mil)
Except for share items (millions) and per
share items (actual units)
|
|
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 |
|
|
|
|
|
|
|
|
Total net sales |
10,186.6 |
10,535.2 |
9,306.6 |
7,789.1 |
8,198.4 |
|
Total Revenue |
10,186.6 |
10,535.2 |
9,306.6 |
7,789.1 |
8,198.4 |
|
|
|
|
|
|
|
|
Total |
8,481.9 |
8,801.8 |
7,759.5 |
6,452.0 |
6,869.9 |
|
Other Selling/General/Admin. Expense |
793.6 |
- |
- |
- |
- |
|
Salaries |
455.6 |
476.8 |
442.4 |
424.3 |
397.3 |
|
Allowance for Bonuses |
100.4 |
100.6 |
86.5 |
73.4 |
69.8 |
|
Director Allowance for Bonuses |
1.3 |
1.2 |
0.6 |
0.4 |
0.4 |
|
Accrued Retirement Expenses |
20.8 |
83.3 |
53.2 |
-0.6 |
78.5 |
|
Director Retirement Benefits |
0.2 |
0.2 |
0.3 |
0.3 |
0.4 |
|
Provision for doubtful accounts(SGA)(1) |
-3.3 |
3.7 |
23.8 |
11.1 |
8.1 |
|
Prov. for completed
work compensations |
14.5 |
14.2 |
21.8 |
11.5 |
11.9 |
|
Reserve for business liquidations |
- |
0.0 |
1.5 |
4.5 |
- |
|
Research and Development Expense(in SGA) |
16.3 |
- |
- |
- |
- |
|
R & D expenses |
- |
16.0 |
15.1 |
15.9 |
11.7 |
|
Other SGA |
- |
794.2 |
735.7 |
691.4 |
682.4 |
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Provision For Loss On Liquidation Of Sub |
4.1 |
- |
- |
- |
- |
|
SP G on abolishment of retire. benefits |
- |
- |
-0.6 |
0.0 |
- |
|
SP G on adj. for changes of const. acc. |
- |
- |
0.0 |
-3.5 |
0.0 |
|
Gain on transition of defined contributi |
-0.2 |
-2.0 |
0.0 |
-18.4 |
0.0 |
|
SP G on amort. of
prior service cost |
- |
- |
0.0 |
-22.3 |
0.0 |
|
SP L on Retire. of Fixed Asset |
1.2 |
2.7 |
2.6 |
3.0 |
2.4 |
|
SP Impairment Loss |
2.5 |
38.5 |
8.1 |
22.0 |
5.3 |
|
SP Val.Loss-Invest.Sec |
2.8 |
0.9 |
11.9 |
1.9 |
22.0 |
|
SP Loss on disaster |
- |
0.9 |
9.1 |
0.0 |
- |
|
SP L on adj. for changes of acct. assets |
- |
- |
8.2 |
0.0 |
- |
|
SP Special retirement expenses |
- |
- |
4.4 |
0.0 |
- |
|
SP L on val. of inventories |
- |
- |
- |
0.0 |
4.2 |
|
SP Amort. of
goodwill - nonrecuring |
- |
- |
- |
- |
0.0 |
|
SP HQ Relocation |
- |
- |
0.0 |
2.7 |
0.0 |
|
SP Settlement expenses |
- |
- |
0.0 |
5.0 |
0.0 |
|
SP Other Special Losses |
0.4 |
- |
1.7 |
0.0 |
3.3 |
|
NOP Val.Loss-R.E.
Sale |
- |
- |
- |
- |
0.0 |
|
Total Operating Expense |
9,892.1 |
10,333.1 |
9,186.0 |
7,674.8 |
8,167.6 |
|
|
|
|
|
|
|
|
NOP Interest Income |
4.6 |
3.4 |
2.6 |
5.6 |
6.2 |
|
Other Non-Operating Income (Expense) |
0.0 |
0.0 |
- |
- |
- |
|
NOP Purchase Discount |
4.8 |
5.0 |
4.4 |
4.9 |
8.0 |
|
Loss on change in equity |
-0.3 |
- |
- |
- |
- |
|
Loss On Sales Of Stocks Of Subsidiaries |
- |
-1.3 |
- |
- |
- |
|
NOP Dividend Income |
11.4 |
11.3 |
8.7 |
5.7 |
7.8 |
|
NOP Exchange Gain |
11.3 |
9.8 |
0.0 |
12.8 |
0.0 |
|
NOP Other Non-op. Income |
19.2 |
23.9 |
24.3 |
15.5 |
15.9 |
|
NOP Interest Expense |
-15.3 |
-16.4 |
-15.4 |
-12.5 |
-13.6 |
|
NOP Sales Discount |
-7.7 |
-7.8 |
-6.8 |
-5.2 |
-6.4 |
|
NOP Equity Loss |
-1.7 |
-4.0 |
-9.1 |
-24.1 |
-5.7 |
|
NOP Exchange Loss |
- |
- |
-2.4 |
0.0 |
-10.4 |
|
NOP Other Non-op.Expense |
-6.8 |
-5.9 |
-6.7 |
-5.8 |
-8.6 |
|
Loss On Sales Of Noncurrent
Assets |
-0.3 |
- |
- |
- |
- |
|
SP Sale Gain-Fixed Asst |
1.1 |
3.7 |
4.9 |
0.7 |
1.5 |
|
SP Sale Gain-Invest.Sec |
0.4 |
0.1 |
0.2 |
1.9 |
0.2 |
|
SP G on sale of subsidiaries' stocks |
- |
- |
3.2 |
0.0 |
- |
|
SP L on sales of investment securities |
- |
- |
-0.1 |
0.0 |
- |
|
SP L on sale of affiliated securities |
- |
- |
0.0 |
- |
- |
|
SP Loss Liquidation Subsidiary |
- |
- |
- |
0.0 |
-6.2 |
|
Net Income Before Taxes |
315.1 |
223.9 |
128.5 |
113.9 |
19.5 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
124.6 |
106.7 |
69.2 |
88.5 |
9.7 |
|
Net Income After Taxes |
190.6 |
117.2 |
59.3 |
25.3 |
9.8 |
|
|
|
|
|
|
|
|
Minority Interest |
1.3 |
0.2 |
1.1 |
0.3 |
0.4 |
|
Net Income Before Extra. Items |
191.9 |
117.4 |
60.4 |
25.6 |
10.2 |
|
Net Income |
191.9 |
117.4 |
60.4 |
25.6 |
10.2 |
|
|
|
|
|
|
|
|
Earning Adjustment |
- |
- |
0.0 |
- |
0.0 |
|
Income Available to Com Excl ExtraOrd |
191.9 |
117.4 |
60.4 |
25.6 |
10.2 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
191.9 |
117.4 |
60.4 |
25.6 |
10.2 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
177.1 |
177.1 |
177.1 |
177.1 |
177.2 |
|
Basic EPS Excluding ExtraOrdinary Items |
1.08 |
0.66 |
0.34 |
0.14 |
0.06 |
|
Basic EPS Including ExtraOrdinary Items |
1.08 |
0.66 |
0.34 |
0.14 |
0.06 |
|
Dilution Adjustment |
- |
- |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
191.9 |
117.4 |
60.4 |
25.6 |
10.2 |
|
Diluted Weighted Average Shares |
177.1 |
177.1 |
177.1 |
177.1 |
177.2 |
|
Diluted EPS Excluding ExtraOrd Items |
1.08 |
0.66 |
0.34 |
0.14 |
0.06 |
|
Diluted EPS Including ExtraOrd Items |
1.08 |
0.66 |
0.34 |
0.14 |
0.06 |
|
DPS-Ordinary Shares |
0.20 |
0.19 |
0.18 |
0.16 |
0.15 |
|
Gross Dividends - Common Stock |
36.3 |
33.7 |
31.0 |
28.6 |
26.5 |
|
Normalized Income Before Taxes |
328.5 |
263.8 |
170.4 |
106.0 |
60.2 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
128.6 |
124.5 |
91.1 |
85.0 |
28.6 |
|
Normalized Income After Taxes |
199.9 |
139.3 |
79.3 |
21.0 |
31.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
201.2 |
139.6 |
80.4 |
21.3 |
32.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.14 |
0.79 |
0.45 |
0.12 |
0.18 |
|
Diluted Normalized EPS |
1.14 |
0.79 |
0.45 |
0.12 |
0.18 |
|
Interest Expense |
15.3 |
16.4 |
15.4 |
12.5 |
13.6 |
|
BC - Depreciation of Goodwill |
3.2 |
- |
- |
- |
- |
|
Amortization of Goodwill - footnote |
- |
2.7 |
- |
- |
- |
|
Amort-goodwill |
- |
- |
1.3 |
2.3 |
2.9 |
|
BC - Depreciation of Fixed Assets |
108.2 |
- |
- |
- |
- |
|
Amort of Tangible Assets-Current Portion |
- |
107.3 |
- |
- |
- |
|
Depreciation |
- |
- |
98.5 |
91.5 |
84.4 |
|
Research and Development Expense(in SGA) |
16.3 |
16.0 |
- |
- |
- |
|
R & D Expenses (SGA) |
- |
- |
15.1 |
15.9 |
11.7 |
|
Income taxes-current |
127.0 |
123.0 |
- |
- |
- |
|
Current Tax - Total |
127.0 |
123.0 |
- |
- |
- |
|
Income taxes-deferred |
-2.5 |
-16.2 |
- |
- |
- |
|
Deferred Tax - Total |
-2.5 |
-16.2 |
- |
- |
- |
|
Income Tax - Total |
124.6 |
106.7 |
- |
- |
- |
|
Reported Operating Profit |
305.3 |
243.0 |
166.2 |
104.9 |
68.0 |
|
Reported Ordinary Profit |
325.2 |
262.3 |
165.8 |
101.8 |
61.3 |
|
Service Cost |
33.7 |
33.1 |
30.5 |
33.0 |
31.5 |
|
Interest Cost |
11.2 |
12.2 |
11.5 |
11.6 |
9.8 |
|
Expected Return on Plan Assets |
-13.2 |
-18.7 |
-17.5 |
-13.6 |
-12.8 |
|
Actuarial Gains and Losses |
-4.2 |
62.3 |
32.6 |
-25.4 |
49.6 |
|
Prior service cost |
0.0 |
0.6 |
1.6 |
-22.3 |
0.1 |
|
Diff from shift to principle system |
- |
- |
- |
0.0 |
5.8 |
|
Transit. L to defined contribution plan |
-0.2 |
-2.0 |
0.0 |
-18.4 |
0.0 |
|
End of pension plan |
- |
0.0 |
-0.6 |
0.0 |
- |
|
Other pension |
8.5 |
8.7 |
6.8 |
1.2 |
0.0 |
|
Domestic Pension Plan Expense |
35.6 |
96.3 |
64.9 |
-33.9 |
83.9 |
|
Total Pension Expense |
35.6 |
96.3 |
64.9 |
-33.9 |
83.9 |
|
Discount Rate(MIN)-Retirement Cost(Domes |
1.60% |
- |
- |
- |
- |
|
Discount rate |
- |
1.80% |
2.10% |
2.20% |
2.10% |
|
Expected return on assets(MIN)-Retiremen |
2.60% |
- |
- |
- |
- |
|
Plan asset expected rate of return |
- |
3.60% |
3.60% |
3.60% |
3.60% |
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 and Deposit |
596.8 |
787.4 |
671.1 |
564.1 |
241.5 |
|
Notes And Accounts Receivable Trade |
1,286.6 |
1,463.1 |
1,356.5 |
1,095.4 |
1,074.9 |
|
Rcvbl-Construct |
51.9 |
52.8 |
72.7 |
54.3 |
49.5 |
|
Short-term investment securities |
116.9 |
182.1 |
241.3 |
203.3 |
174.1 |
|
Inventories - mrchnds.
& fnd. goods |
169.4 |
185.3 |
167.0 |
131.0 |
155.4 |
|
Inventories - work-in-process |
12.7 |
14.2 |
13.5 |
11.6 |
11.2 |
|
Inventories - raw materials & supplies |
54.7 |
55.1 |
48.9 |
41.8 |
41.0 |
|
Real Estate-Sale |
296.5 |
423.4 |
380.0 |
281.8 |
218.6 |
|
Inventories - construc.-in-process |
287.6 |
344.7 |
377.0 |
347.0 |
304.9 |
|
Dfrd. Tax Assets |
85.8 |
96.8 |
95.5 |
67.5 |
67.3 |
|
Short-term loans receivable |
391.7 |
57.8 |
14.5 |
9.2 |
37.0 |
|
Accounts receivable-other |
509.5 |
527.7 |
549.1 |
455.9 |
401.8 |
|
Rounding adjustment Assets |
0.0 |
0.0 |
- |
- |
- |
|
Other Curr.Asset |
59.4 |
61.3 |
51.4 |
39.8 |
47.3 |
|
Doubtful Account |
-13.7 |
-16.1 |
-15.3 |
-8.9 |
-7.5 |
|
Total Current Assets |
3,905.7 |
4,235.3 |
4,023.1 |
3,293.8 |
2,817.0 |
|
|
|
|
|
|
|
|
Bldg.&Structure |
548.6 |
604.4 |
618.3 |
545.0 |
473.7 |
|
Accmulated
Depreciation |
-265.7 |
-278.5 |
-270.4 |
-227.0 |
-204.1 |
|
Machinery&Equip |
650.0 |
612.1 |
658.0 |
609.6 |
503.1 |
|
Accmulated
Depreciation |
-464.6 |
-462.7 |
-490.7 |
-439.6 |
-348.0 |
|
Land |
250.5 |
297.1 |
314.3 |
285.7 |
286.5 |
|
Lease assets |
86.5 |
101.1 |
79.8 |
48.6 |
26.5 |
|
Accumulated depreciation(2) |
-43.0 |
-55.2 |
-36.2 |
-12.4 |
-2.9 |
|
Construction |
14.3 |
72.5 |
36.9 |
4.7 |
29.7 |
|
Other |
201.7 |
220.5 |
214.8 |
194.1 |
175.7 |
|
Accmulated
Depreciation |
-65.4 |
-71.8 |
-67.8 |
-57.6 |
-47.9 |
|
Goodwill |
7.8 |
11.2 |
2.4 |
3.3 |
7.5 |
|
Other |
89.5 |
90.6 |
82.9 |
67.7 |
57.6 |
|
Other Investment Securities |
523.3 |
- |
- |
- |
- |
|
Investment Sec |
- |
485.2 |
472.2 |
440.8 |
355.1 |
|
Invt Secs Noncons, Asc, Affd Cos |
110.0 |
- |
- |
- |
- |
|
LT inv. in sec-nonconsolidated
affilates |
- |
103.3 |
112.5 |
106.0 |
- |
|
Long-term loans receivable |
13.3 |
24.8 |
30.3 |
33.1 |
86.6 |
|
Deferred tax assets |
14.3 |
15.2 |
16.3 |
12.2 |
17.8 |
|
Prepaid pension benefits |
- |
- |
0.0 |
17.1 |
0.0 |
|
Rounding adjustment Assets |
0.0 |
0.0 |
- |
- |
- |
|
Other Other Long
Term Assets |
0.0 |
0.0 |
- |
- |
- |
|
Other(1) |
270.8 |
145.2 |
146.4 |
123.9 |
114.3 |
|
Allowance for doubtful accounts |
-23.6 |
-39.0 |
-38.0 |
-21.8 |
-17.7 |
|
Total Assets |
5,824.0 |
6,111.5 |
5,905.1 |
5,027.2 |
4,330.6 |
|
|
|
|
|
|
|
|
Notes and accounts payable-trade |
1,112.3 |
1,190.5 |
1,122.3 |
926.3 |
750.4 |
|
Pybl-Construct. |
690.5 |
696.1 |
689.5 |
653.1 |
534.9 |
|
Short-term loans payable |
276.3 |
170.8 |
140.2 |
130.6 |
100.3 |
|
LT borrowings (current) |
- |
81.2 |
84.1 |
1.2 |
7.2 |
|
Lease liabilities (current) |
11.3 |
14.8 |
13.2 |
8.7 |
5.2 |
|
Tax Payable |
59.4 |
69.8 |
83.4 |
23.6 |
13.2 |
|
Advanced received on construction |
450.1 |
468.1 |
452.8 |
332.6 |
344.5 |
|
Deferred tax liabilities (current) |
- |
- |
0.1 |
0.1 |
0.1 |
|
Accrued Bonus |
99.8 |
108.4 |
99.6 |
78.5 |
75.4 |
|
Provision for directors'' bonuses |
1.2 |
1.2 |
0.7 |
0.4 |
0.4 |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Provision For Loss On Liquidation Of Sub |
3.7 |
- |
- |
- |
- |
|
Res-Compensation |
18.2 |
22.4 |
24.2 |
13.4 |
13.2 |
|
Provision for loss on disaster |
0.6 |
0.7 |
6.6 |
0.0 |
- |
|
Asset retirement obligations |
6.0 |
6.5 |
5.5 |
0.0 |
- |
|
Other Curr. Liab |
205.5 |
257.8 |
219.2 |
179.7 |
145.0 |
|
Total Current Liabilities |
2,934.9 |
3,088.2 |
2,941.3 |
2,348.4 |
1,989.9 |
|
|
|
|
|
|
|
|
Corporate Bond |
159.4 |
182.1 |
181.0 |
160.5 |
0.0 |
|
Long-term loans payable |
257.1 |
343.3 |
387.3 |
385.4 |
366.0 |
|
Lease liabilities (non-current) |
31.7 |
32.3 |
29.5 |
28.3 |
18.7 |
|
Total Long Term Debt |
448.2 |
557.7 |
597.8 |
574.1 |
384.7 |
|
|
|
|
|
|
|
|
Dfrd. Tax Liab. |
108.4 |
88.8 |
106.0 |
100.1 |
30.3 |
|
Res-Accr.Retire |
103.3 |
121.8 |
74.2 |
57.7 |
186.4 |
|
Provision for directors'' retirement ben |
0.9 |
1.0 |
0.7 |
1.8 |
1.4 |
|
Reserve for Business Liquidation |
15.3 |
17.4 |
17.3 |
14.0 |
9.0 |
|
Asset retirement obligations |
8.6 |
10.2 |
11.3 |
0.0 |
- |
|
Rounding adjustment Liability |
- |
0.0 |
- |
- |
- |
|
Other Liability |
150.5 |
171.0 |
188.4 |
187.4 |
147.7 |
|
Minor. Interest |
8.1 |
2.5 |
2.7 |
3.7 |
1.4 |
|
Total Liabilities |
3,778.2 |
4,058.5 |
3,939.8 |
3,287.1 |
2,750.7 |
|
|
|
|
|
|
|
|
Common Stock |
294.1 |
335.9 |
333.9 |
296.1 |
280.2 |
|
Total capital surpluses |
285.6 |
326.2 |
324.2 |
287.6 |
272.1 |
|
Total retained earnings |
1,355.0 |
1,386.4 |
1,298.1 |
1,124.4 |
1,066.6 |
|
Treasury Stock |
-2.9 |
-3.3 |
-3.2 |
-2.8 |
-2.6 |
|
Valuation difference on available-for-sa |
128.9 |
69.6 |
58.8 |
59.9 |
23.9 |
|
Deferred Hedge |
2.6 |
2.3 |
1.9 |
0.3 |
0.3 |
|
Translation Adj. |
-17.6 |
-64.2 |
-48.3 |
-25.4 |
-60.4 |
|
Rounding adjustment Equity |
0.0 |
- |
- |
- |
- |
|
Total Equity |
2,045.8 |
2,053.0 |
1,965.3 |
1,740.0 |
1,580.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
5,824.0 |
6,111.5 |
5,905.1 |
5,027.2 |
4,330.7 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
177.1 |
177.1 |
177.1 |
177.1 |
177.1 |
|
Total Common Shares Outstanding |
177.1 |
177.1 |
177.1 |
177.1 |
177.1 |
|
T/S-Ordinary Shares |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Advance Received |
450.1 |
468.1 |
452.8 |
332.6 |
344.5 |
|
Full-Time Employees |
14,890 |
14,736 |
13,778 |
13,601 |
12,629 |
|
Total Number of Shareholders |
11,170 |
11,687 |
- |
- |
- |
|
Number of Common Shareholders |
- |
- |
11,739 |
11,879 |
11,915 |
|
Debt <1Yr. |
71.1 |
81.2 |
84.1 |
1.2 |
7.2 |
|
Lns Pble Maturing
over a Yr within 2 Yrs |
64.9 |
- |
- |
- |
- |
|
Debt <2Yr. |
- |
127.0 |
80.5 |
71.8 |
13.7 |
|
Bond Redemp Amts over 2 Yrs within 3 Yrs |
- |
121.4 |
- |
- |
- |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
74.4 |
71.6 |
- |
- |
- |
|
Debt <3Yr. |
- |
- |
126.6 |
69.3 |
66.1 |
|
Lns Pble Maturg over 3 Yrs within 4 Yrs |
15.5 |
82.3 |
- |
- |
- |
|
Debt <4Yr. |
- |
- |
187.0 |
109.8 |
63.5 |
|
Bond Redemp Amts over 4 Yrs within 5 Yrs |
- |
60.7 |
- |
- |
- |
|
Lns Pble Maturg over 4 Yrs within 5 Yrs |
25.8 |
15.2 |
- |
- |
- |
|
Debt <5Yr. |
- |
- |
77.2 |
163.3 |
101.8 |
|
Other remaining value |
76.6 |
- |
- |
- |
- |
|
Loans Payable Remaining |
- |
47.2 |
- |
- |
- |
|
Remaining |
- |
- |
97.1 |
78.1 |
120.8 |
|
Total Long Term Debt, Supplemental |
328.2 |
606.6 |
652.4 |
493.6 |
373.1 |
|
Lease <1Yr. |
12.9 |
14.8 |
13.2 |
8.7 |
5.2 |
|
Cap Lease Maturg over a Yr within 2 Yrs |
15.6 |
19.7 |
- |
- |
- |
|
Lease <2Yr. |
- |
- |
15.0 |
13.5 |
7.2 |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
10.6 |
7.2 |
- |
- |
- |
|
Lease <3Yr. |
- |
- |
8.4 |
9.6 |
7.2 |
|
Cap Lease Maturg over 3 Yr within 4 Yrs |
4.2 |
3.7 |
- |
- |
- |
|
Lease <4Yr. |
- |
- |
3.7 |
4.0 |
3.6 |
|
Cap Lease Maturg over 4 Yr within 5 Yrs |
1.0 |
1.2 |
- |
- |
- |
|
Lease <5Yr. |
- |
- |
1.0 |
1.0 |
0.6 |
|
Other remaining |
0.3 |
- |
- |
- |
- |
|
Lease Remaining |
- |
0.6 |
1.4 |
0.1 |
0.1 |
|
Total Capital Leases, Supplemental |
44.6 |
47.1 |
42.7 |
37.0 |
23.9 |
|
Pension Obligation |
592.9 |
638.4 |
571.7 |
489.7 |
545.4 |
|
Fair Value of Plan Assets |
490.0 |
516.7 |
497.5 |
449.1 |
359.0 |
|
Funded Status |
-102.9 |
-121.8 |
-74.2 |
-40.6 |
-186.4 |
|
Total Funded Status |
-102.9 |
-121.8 |
-74.2 |
-40.6 |
-186.4 |
|
Discount Rate |
1.60% |
1.80% |
2.10% |
2.20% |
2.10% |
|
Expected return on assets(MIN)-Retiremen |
2.60% |
- |
- |
- |
- |
|
Expected Rate of Return |
- |
3.60% |
3.60% |
3.60% |
3.60% |
|
Unrecognized actuarial gains and losses |
- |
0.0 |
0.0 |
17.1 |
0.0 |
|
Accrued Pension Benefit |
-102.9 |
-121.8 |
-74.2 |
-57.7 |
-186.4 |
|
Net Assets Recognized on Balance Sheet |
-102.9 |
-121.8 |
-74.2 |
-40.6 |
-186.4 |
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 |
|
|
|
|
|
|
|
|
Income Before Tax |
315.1 |
223.9 |
128.5 |
113.9 |
19.5 |
|
Depreciation |
108.2 |
107.3 |
98.5 |
91.5 |
84.4 |
|
Impairment Loss |
2.5 |
38.5 |
8.1 |
22.0 |
5.3 |
|
Amort-Consoli.Adjust |
3.2 |
2.7 |
1.3 |
2.3 |
2.9 |
|
allowance for doubtful accounts |
-12.9 |
0.9 |
18.1 |
4.1 |
5.2 |
|
Increase (decrease) in provision for bon |
5.5 |
8.6 |
11.2 |
-1.2 |
-1.9 |
|
Increase (decrease) in provision for dir |
0.2 |
0.4 |
0.3 |
0.0 |
0.0 |
|
Inc(Dec) in provision for loss on liqui |
4.1 |
- |
- |
- |
- |
|
Increase (decrease) in provision for war |
-1.6 |
-2.1 |
8.8 |
-0.6 |
-0.2 |
|
Increase (decrease) in provision for los |
- |
-6.1 |
6.4 |
0.0 |
- |
|
Reserve for Liquidatioin
of Business |
- |
- |
1.5 |
4.5 |
0.0 |
|
Increase (decrease) in provision for ret |
-4.2 |
49.3 |
28.3 |
-157.9 |
34.0 |
|
Increase (decrease) in provision for dir |
0.0 |
0.3 |
-1.1 |
0.3 |
-0.2 |
|
Interest and dividends income |
-16.1 |
-14.7 |
-11.3 |
-11.3 |
-14.0 |
|
Interest Expense |
15.3 |
16.4 |
15.4 |
12.5 |
13.6 |
|
Equity in (earnings) losses of affiliate |
1.7 |
4.0 |
9.1 |
24.1 |
5.7 |
|
sales and valuation of marketable secs |
-0.4 |
1.2 |
-3.3 |
-1.9 |
-0.2 |
|
Loss (gain) on valuation of short-term a |
2.8 |
0.9 |
11.9 |
1.9 |
22.0 |
|
Loss (gain) on sales and retirement of n |
0.4 |
-1.1 |
-2.3 |
2.3 |
0.9 |
|
L on adj. for changes of accn.
assets |
- |
- |
8.2 |
0.0 |
- |
|
Decrease (increase) in notes and account |
6.9 |
-79.2 |
-144.0 |
39.3 |
78.0 |
|
Decrease (increase) in inventories |
125.4 |
10.9 |
-20.1 |
62.9 |
-97.5 |
|
dec(inc) in other
current assets |
-59.3 |
20.5 |
-39.9 |
-31.7 |
58.2 |
|
Increase (decrease) in notes and account |
138.0 |
76.9 |
23.6 |
268.8 |
-205.3 |
|
Increase (decrease) in advances received |
10.4 |
-3.2 |
10.3 |
-0.6 |
-0.9 |
|
Increase (decrease) in advances received |
45.5 |
13.2 |
75.2 |
-31.8 |
-63.2 |
|
Increase (decrease) in accrued consumpti |
-1.3 |
0.8 |
-0.1 |
5.7 |
2.6 |
|
Other Current Liabilities |
-8.7 |
10.1 |
-4.0 |
-4.4 |
4.2 |
|
Rounding adjustment Cash flow |
0.0 |
0.0 |
- |
- |
- |
|
Other, net |
1.3 |
-6.8 |
0.2 |
-3.1 |
12.0 |
|
Int. and Div. Rcvd. |
16.9 |
22.3 |
16.0 |
10.4 |
15.4 |
|
Interest expenses paid |
-15.9 |
-17.1 |
-14.9 |
-12.6 |
-11.7 |
|
Taxes Paid |
-130.1 |
-138.4 |
-35.6 |
-8.8 |
-50.2 |
|
Adjustment |
- |
- |
- |
- |
0.0 |
|
Cash from Operating Activities |
553.3 |
340.3 |
204.4 |
400.7 |
-81.2 |
|
|
|
|
|
|
|
|
Deposited-Time Depo |
-896.2 |
-430.9 |
-116.9 |
-0.7 |
-0.4 |
|
Withdrawn-Time Depo |
675.2 |
228.3 |
117.1 |
0.4 |
1.3 |
|
Sale-Mktbl.Sec |
- |
- |
0.0 |
3.2 |
0.0 |
|
Decrease (increase) in short-term loans |
-33.2 |
-48.6 |
-1.9 |
10.0 |
-21.7 |
|
Purchase of property, plant and equipmen |
-80.7 |
-132.4 |
-136.1 |
-111.9 |
-238.1 |
|
Proceeds from sales of property, plant a |
30.7 |
32.6 |
20.3 |
22.0 |
29.6 |
|
Purch-Intang.Asset |
-30.4 |
-35.3 |
-28.9 |
-17.3 |
-20.0 |
|
Purch-Invest.Sec |
-12.6 |
-9.1 |
-17.1 |
-119.5 |
-16.2 |
|
Sale-Invest.Sec |
1.0 |
0.1 |
5.6 |
3.4 |
5.4 |
|
Purchase of subs.' securities consolid. |
- |
- |
0.0 |
- |
0.0 |
|
Purchase of subs.' securities |
- |
0.0 |
0.0 |
0.0 |
-1.0 |
|
Sale of Subsidiary Stock-Consol. Change |
- |
- |
3.7 |
0.0 |
- |
|
Proceed Purch Subsid Stock-Consol Change |
- |
-25.1 |
0.0 |
0.3 |
0.0 |
|
Payments of long-term loans receivable |
-0.3 |
-3.3 |
-4.5 |
-10.9 |
-22.7 |
|
Collection of long-term loans receivable |
8.5 |
8.2 |
3.1 |
12.4 |
1.6 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Expense-Others |
-13.9 |
-13.4 |
-10.5 |
-21.2 |
-15.1 |
|
Income-Others |
6.4 |
12.2 |
11.6 |
24.1 |
7.9 |
|
Cash from Investing Activities |
-345.4 |
-416.7 |
-154.6 |
-205.7 |
-289.2 |
|
|
|
|
|
|
|
|
Net increase (decrease) in short-term lo |
-4.6 |
41.5 |
12.8 |
9.5 |
14.6 |
|
Repayment of finance lease |
-23.2 |
-22.1 |
-14.8 |
-9.9 |
-2.8 |
|
Proceeds from long-term loans payable |
67.9 |
40.8 |
39.0 |
20.6 |
298.3 |
|
Repayment of long-term loans payable |
-80.9 |
-97.8 |
-1.6 |
-31.2 |
-43.4 |
|
Bond issued |
- |
- |
0.0 |
161.4 |
0.0 |
|
Rounding adjustment Cash flow |
- |
0.0 |
- |
- |
- |
|
Proceed from minorities' payment |
8.9 |
- |
0.0 |
2.5 |
0.7 |
|
Redemp-Corp.Bond |
- |
- |
- |
- |
0.0 |
|
Dividend Paid |
-32.0 |
-33.6 |
-31.0 |
-28.6 |
-26.5 |
|
Dividend Paid for Minority |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income-Others |
- |
0.0 |
0.0 |
0.0 |
0.1 |
|
Expense-Others |
0.0 |
0.0 |
-0.1 |
0.0 |
-0.2 |
|
Cash from Financing Activities |
-63.9 |
-71.2 |
4.3 |
124.2 |
240.8 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-1.5 |
-1.1 |
-8.4 |
13.0 |
-7.1 |
|
Net Change in Cash |
142.4 |
-148.7 |
45.7 |
332.2 |
-136.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
769.4 |
957.2 |
836.3 |
438.9 |
542.1 |
|
Net Cash - Ending Balance |
911.9 |
808.5 |
882.0 |
771.0 |
405.3 |
|
Cash Interest Paid |
15.9 |
17.1 |
14.9 |
12.6 |
11.7 |
|
Cash Taxes Paid |
130.1 |
138.4 |
35.6 |
8.8 |
50.2 |
Financial
Health
Financials in: USD (mil)
Except for share items (millions) and per
share items (actual units)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Key Ratios |
|||||
|
|
31-Mar-2013 |
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
Profitability |
|||||
|
Gross Margin (?) |
16.73% |
16.45% |
16.62% |
17.17% |
16.15% |
|
Operating Margin (?) |
2.89% |
1.92% |
1.30% |
1.47% |
0.38% |
|
Pretax Margin (?) |
3.09% |
2.13% |
1.38% |
1.46% |
0.24% |
|
Net Profit Margin (?) |
1.88% |
1.11% |
0.65% |
0.33% |
0.12% |
|
Financial Strength |
|||||
|
Current Ratio (?) |
1.33 |
1.37 |
1.37 |
1.40 |
1.42 |
|
Long Term Debt/Equity (?) |
0.22 |
0.27 |
0.30 |
0.33 |
0.24 |
|
Total Debt/Equity (?) |
0.36 |
0.40 |
0.43 |
0.41 |
0.31 |
|
Management Effectiveness |
|||||
|
Return on Assets (?) |
3.01% |
1.86% |
1.06% |
0.52% |
0.22% |
|
Return on Equity (?) |
8.81% |
5.58% |
3.18% |
1.49% |
0.63% |
|
Efficiency |
|||||
|
Receivables Turnover (?) |
4.43 |
4.96 |
5.08 |
4.77 |
5.14 |
|
Inventory Turnover (?) |
8.72 |
8.37 |
8.43 |
8.09 |
10.02 |
|
Asset Turnover (?) |
1.61 |
1.68 |
1.66 |
1.61 |
1.88 |
|
Market Valuation USD (mil) |
||||
|
P/E (TTM) (?) |
9.71 |
. |
|
2,327.0 |
|
Price/Sales (TTM) (?) |
0.25 |
. |
|
0.26 |
|
Price/Book (MRQ) (?) |
1.07 |
. |
|
5.97 |
|
Market Cap as of 06-Dec-20131 (?) |
2,176.8 |
. |
|
|
|
1-ExchangeRate: JPY to USD on 6-Dec-2013 |
101.794566 |
|
|
|
|
2-ExchangeRate: JPY to USD on 30-Sep-2013 |
98.230000 |
|
|
|
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.61.98 |
|
|
1 |
Rs.101.49 |
|
Euro |
1 |
Rs.84.79 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.