MIRA
INFORM REPORT
|
Report Date : |
07.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
DAIICHI KASEI CO., LTD. |
|
|
|
|
Registered Office : |
Hachioji First Square, 6F
3-20-6, Myojin-cho Hachioji-Shi, 192-0046 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
12.01.1966 |
|
|
|
|
Legal Form : |
Public Subsidiary |
|
|
|
|
Line of Business : |
Subject is engaged in the manufacture and sale of synthetic
leather. |
|
|
|
|
No. of Employees : |
104 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
japan - ECONOMIC OVERVIEW
In the years following World War II, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (1% of GDP) helped Japan develop a technologically advanced economy. Two notable characteristics of the post-war economy were the close interlocking structures of manufacturers, suppliers, and distributors, known as keiretsu, and the guarantee of lifetime employment for a substantial portion of the urban labor force. Both features are now eroding under the dual pressures of global competition and domestic demographic change. Japan's industrial sector is heavily dependent on imported raw materials and fuels. A tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. For three decades, overall real economic growth had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the after effects of inefficient investment and an asset price bubble in the late 1980s that required a protracted period of time for firms to reduce excess debt, capital, and labor. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 stood as the fourth-largest economy in the world after second-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further into recession. Government stimulus spending helped the economy recover in late 2009 and 2010, but the economy contracted again in 2011 as the massive 9.0 magnitude earthquake in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues on restructuring the economy and reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy.
|
Source : CIA |
Company
name and address
DAIICHI KASEI CO., LTD.
Hachioji First Square, 6F
3-20-6, Myojin-cho
Hachioji-Shi, 192-0046
Japan
Tel: 81-42-6446515
Fax: 81-42-6446621
Website: www.dkktokyo.co.jp
Employees: 104
Company Type: Public Subsidiary
Corporate Family: 25 Companies
Ultimate Parent: ADVANEX INC.
Traded: Osaka Stock Exchange: 4235
Incorporation Date: 12-Jan-1966
Auditor: Kudan Audit
Corporation
Financials in: USD (In Millions)
Fiscal Year End: 31-Mar-2012
Reporting Currency: Japanese Yen
Net Income: 1.1
Market Value: 15.9
(25-Jan-2013)
Business
Description
Daiichi Kasei Co., Ltd. is a Japan-based company primarily
engaged in the manufacture and sale of synthetic leather. The Company is
principally involved in the manufacture and sale of synthetic leather and
dimethylformamide, which are primarily used in clothing, furniture, vehicles,
gloves, watch cases and jewelry boxes. As of March 31, 2012, the Company had
one subsidiary and three associated companies. For the six months ended 30 September
2012, Daiichi Kasei Co., Ltd. revenues increased 4% to Y1.7B. Net loss
applicable to common stockholders totaled Y10.6M vs. income of Y38.9M. Revenues
reflect an increase in demand for the Company's products and services due to
favorable market conditions. Net loss reflects Total selling, general and
administrativ increase of 8% to Y222.8M (expense), NOP Equity gain decrease of
36% to Y20.7M (income).
Industry
|
Industry |
|
|
ANZSIC 2006: |
1320 -
Leather Tanning, Fur Dressing and Leather Product Manufacturing |
|
NACE 2002: |
|
|
NAICS 2002: |
|
|
UK SIC 2003: |
|
|
UK SIC 2007: |
1511 -
Tanning and dressing of leather; dressing and dyeing of fur |
|
US SIC 1987: |
Key
Executives
|
Name |
Title |
Source |
|
President, President of Subsidiary, Representative Director |
Reuters |
|
|
President of President's Office, Director |
Reuters |
|
|
Director of Sales, Director |
Reuters |
|
|
Director of Administration, Director |
Reuters |
|
|
Managing Director, Director of Technology, Representative Director |
Reuters |
Significant
Developments
|
Topic |
#* |
Most Recent Headline |
Date |
|
1 |
3-Aug-2012 |
||
|
1 |
9-Jul-2012 |
||
|
2 |
Daiichi
Kasei Co Ltd Raises Full-year Consolidated Outlook for FY 2013 |
2-Nov-2012 |
* number of significant developments within the last 12 months
News
|
Title |
Date |
|
Daiichi
Kasei 9Mos Grp Net Pft Y43.00M Vs Y70.00M Pft Yr Earlier |
31-Jan-2013 |
|
Daiichi
Kasei 1H Grp Net Loss Y10.00M Vs Y38.00M Pft Yr Earlier |
1-Nov-2012 |
|
Daiichi
Kasei Expects This FY Group Net Profit Y91.00M |
1-Nov-2012 |
|
Daiichi
Kasei Ups FY Group Net Profit View To Y91.00M |
1-Nov-2012 |
|
Daiichi
Kasei Sees Smaller 1H Group Net Loss Y10.00M |
24-Oct-2012 |
Financial
Summary
As of 30-Sep-2012
|
Key Ratios |
Company |
Industry |
|
Current Ratio (MRQ) |
3.08 |
2.22 |
|
Quick Ratio (MRQ) |
2.65 |
1.09 |
|
Debt to Equity (MRQ) |
0.18 |
1.83 |
|
Sales 5 Year Growth |
-2.63 |
-1.82 |
|
Net Profit Margin (TTM) % |
1.21 |
1.34 |
|
Return on Assets (TTM) % |
1.15 |
1.80 |
|
Return on Equity (TTM) % |
1.75 |
6.70 |
Stock
Snapshot
|
Traded: Osaka Stock Exchange: 4235 |
||||||||||||||||||||||||||||||
|
As of 25-Jan-2013 Financials in: JPY |
||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||
|
1 - Profit & Loss Item Exchange Rate: USD 1 = JPY 78.96121
2 - Balance Sheet Item Exchange Rate:
USD 1 = JPY 82.38536
Location
Hachioji First Square, 6F
3-20-6, Myojin-cho
Hachioji-Shi, 192-0046
Japan
Tel: 81-42-6446515
Fax: 81-42-6446621
Website: www.dkktokyo.co.jp
Quote Symbol –
Exchange 4235 - Osaka Stock
Exchange
Sales JPY(mil): 3,135.7
Assets JPY(mil): 3,249.5
Employees: 104
Fiscal Year End: 31-Mar-2012
Industry: Apparel
and Accessories
Incorporation
Date: 12-Jan-1966
Company Type: Public
Subsidiary
Quoted Status: Quoted
President of President's Office, Director: Atsufumi Nakano
|
ANZSIC 2006 Codes: |
||
|
1320 |
- |
Leather Tanning, Fur Dressing and Leather Product Manufacturing |
|
NACE 2002 Codes: |
||
|
1910 |
- |
Tanning and dressing of leather |
|
NAICS 2002 Codes: |
||
|
31611 |
- |
Leather and Hide Tanning and Finishing |
|
US SIC 1987: |
||
|
3111 |
- |
Leather Tanning and Finishing |
|
UK SIC 2003: |
||
|
1910 |
- |
Tanning and dressing of leather |
|
UK SIC 2007: |
||
|
1511 |
- |
Tanning and dressing of leather; dressing and dyeing of fur |
Daiichi Kasei Co., Ltd. is a Japan-based company primarily
engaged in the manufacture and sale of synthetic leather. The Company is
principally involved in the manufacture and sale of synthetic leather and
dimethylformamide, which are primarily used in clothing, furniture, vehicles, gloves,
watch cases and jewelry boxes. As of March 31, 2012, the Company had one
subsidiary and three associated companies. For the six months ended 30
September 2012, Daiichi Kasei Co., Ltd. revenues increased 4% to Y1.7B. Net
loss applicable to common stockholders totaled Y10.6M vs. income of Y38.9M.
Revenues reflect an increase in demand for the Company's products and services
due to favorable market conditions. Net loss reflects Total selling, general
and administrativ increase of 8% to Y222.8M (expense), NOP Equity gain decrease
of 36% to Y20.7M (income).
More
Business Descriptions
Manufacture of wet synthetic leathers used primarily in
furniture, clothing, vehicles and gloves
Other Leather and Allied Product Manufacturing
|
|
|
Quote Symbol: |
4235 |
|
Exchange: |
Osaka Stock Exchange |
|
Currency: |
JPY |
|
Stock Price: |
210.0 |
|
Stock Price Date: |
01-25-2013 |
|
52 Week Price Change %: |
-11.4 |
|
Market Value (mil): |
1,428,000.0 |
|
SEDOL: |
6587110 |
|
ISIN: |
JP3473600009 |
Major Shareholders
TYO Sm & Med Bus Inv
& Cons (20.6%); Companys Trust Stock (17.8%)
Auditor: Kudan
Audit Corporation
Auditor: Kudan
Audit Corporation
Corporate Structure News
Daiichi
Kasei Co., Ltd.
Total Corporate Family Members: 25
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Tokyo |
Japan |
Miscellaneous Fabricated Products |
319.0 |
2,344 |
|
|
Subsidiary |
Tokyo |
Japan |
Auto and Truck Parts |
28.8 |
465 |
|
|
Subsidiary |
Shimotsuke, Tochigi |
Japan |
Miscellaneous Fabricated Products |
|
320 |
|
|
Subsidiary |
Seremban, Negeri Sembilan |
Malaysia |
Miscellaneous Fabricated Products |
12.7 |
200 |
|
|
Subsidiary |
Hai Duong |
Viet Nam |
Construction - Supplies and Fixtures |
|
100 |
|
|
Subsidiary |
Kowloon |
Hong Kong |
Miscellaneous Capital Goods |
|
3 |
|
|
Subsidiary |
Dongguan, Guangdong |
China |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Fabricated Products |
22.7 |
220 |
|
|
Subsidiary |
Shanghai, Shanghai |
China |
Miscellaneous Fabricated Products |
9.2 |
250 |
|
|
Subsidiary |
Shanghai |
China |
Miscellaneous Fabricated Products |
|
200 |
|
|
Subsidiary |
Southwell |
United Kingdom |
Miscellaneous Fabricated Products |
15.0 |
172 |
|
|
Subsidiary |
Smethwick |
United Kingdom |
Miscellaneous Capital Goods |
|
5 |
|
|
Subsidiary |
Hachioji-Shi |
Japan |
Apparel and Accessories |
39.7 |
104 |
|
|
Subsidiary |
Nottingham |
United Kingdom |
Miscellaneous Fabricated Products |
|
100 |
|
|
Subsidiary |
West Bromwich |
United Kingdom |
Miscellaneous Fabricated Products |
|
5 |
|
|
Subsidiary |
Nottingham |
United Kingdom |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Cypress, CA |
United States |
Construction - Supplies and Fixtures |
3.4 |
70 |
|
|
Subsidiary |
Tokyo |
Japan |
Electronic Instruments and Controls |
42.4 |
40 |
|
|
Subsidiary |
Guangzhou, Guangdong |
China |
Fabricated Plastic and Rubber |
|
1,000 |
|
|
Subsidiary |
Saitama |
Japan |
Miscellaneous Capital Goods |
6.9 |
35 |
|
|
Subsidiary |
Kita-Ku, Tokyo |
Japan |
Miscellaneous Capital Goods |
20.7 |
|
|
|
Subsidiary |
Kowloon |
Hong Kong |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Dongguan, Guangdong |
China |
Miscellaneous Fabricated Products |
|
|
|
|
Subsidiary |
Ayutthaya |
Thailand |
Miscellaneous Fabricated Products |
|
|
|
|
Subsidiary |
Dalian, Liaoning |
China |
Miscellaneous Fabricated Products |
|
|
Board
of Directors
|
|
|
||||
|
Managing Director, Director of Technology, Representative
Director |
Director/Board Member |
||||
|
||||||
|
President, President of Subsidiary, Representative
Director |
Director/Board Member |
|
|||
|
||||||
|
Director of Sales, Director |
Director/Board Member |
|
|||
|
||||||
|
President of President's Office, Director |
Director/Board Member |
|
|||
|
||||||
|
Manager of Saitama Business Office, Director |
Director/Board Member |
|
|||
|
||||||
|
Director of Administration, Director |
Director/Board Member |
|
|||
|
||||||
Executives
|
|
|
||||
|
President, President of Subsidiary, Representative
Director |
President |
||||
|
||||||
|
President of President's Office, Director |
President |
|
|||
|
||||||
|
Managing Director, Director of Technology, Representative
Director |
Managing Director |
|
|||
|
||||||
|
Director of Administration, Director |
Administration Executive |
|
|||
|
||||||
|
Director of Sales, Director |
Sales Executive |
|
|||
|
||||||
|
|
Daiichi Kasei Co Ltd Raises Full-year Consolidated Outlook for FY 2013
Nov 02, 2012
Daiichi Kasei Co Ltd announced that it has raised its full-year consolidated
outlook for revenue from JPY 3,439 million to JPY 3,511 million, operating
profit from JPY 15 million to JPY 73 million, ordinary profit from JPY 64
million to JPY 136 million, net profit from JPY 35 million to JPY 91 million,
and earnings per share from JPY 6.25 to JPY 16.28, for the fiscal year ending
March 31, 2013. The Company raised its full-year consolidated outlook mainly
due to the alleviation of impact by foreign exchange loss.
Daiichi Kasei Co Ltd Raises Consolidated Mid-year Outlook for FY 2013
Oct 25, 2012
Daiichi Kasei Co Ltd announced that it has raised its consolidated mid-year
outlook for revenue from JPY 1,651 million to JPY 1,704 million, operating
profit from a loss of JPY 52 million to a loss of JPY 24 million, ordinary
profit from a loss of JPY 29 million to JPY 0 million, net profit from a loss
of JPY 38 million to a loss of JPY 10 million and earning per share from a loss
of JPY 6.76 to a loss of JPY 1.89, for the fiscal year ending March 2013. The
Company raised the outlook due to the increased sales.
Daiichi Kasei Co., Ltd. Amends Consolidated Mid-year and Full-year Outlook for FY 2013; Lowers Year-end Dividend Forecast for FY 2013
Aug 03, 2012
Daiichi Kasei Co., Ltd. announced that it has raised the consolidated mid-year
outlook for revenue from JPY 1,636 million to JPY 1,651 million, but has
lowered the consolidated mid-year outlook for operating profit (loss) from JPY
15 million to JPY (52 million), ordinary profit (loss) from JPY 47 million to
JPY (29 million), net profit (loss) from JPY 2 million to JPY (38 million) and
earning (loss) per share from JPY 0.42 to JPY (6.76) for the fiscal year ending
March 31, 2013. The Company has also lowered the consolidated full-year outlook
for revenue from JPY 3,473 million to JPY 3,439 million, operating profit from
JPY 144 million to JPY 15 million, ordinary profit from JPY 214 million to JPY
64 million, net profit from JPY 107 million to JPY 35 million and earning per
share from JPY 19.25 to JPY 6.25 for the fiscal year ending March 31, 2013. The
negative outlook is mainly due to increase of raw material price. The Company
has also lowered the year-end dividend forecast from JPY 7.0 per share to JPY
5.0 per share, for the fiscal year ending March 31, 2013.
Texchem Resources Berhad's Subsidiary To Dispose Entire Stake In M.A.C. Technology (Malaysia) Sdn. Bhd. To Daiichi Kase Co., Ltd.
Jul 09, 2012
Texchem Resources Berhad announced its proposed disposal of the entire equity
interest comprising 9,124,500 ordinary shares of MYR 1.00 each in M.A.C.
Technology (Malaysia) Sdn. Bhd. (MAC), representing 30% of the issued and
paid-up share capital of MAC by Texchem-Pack Holdings (S) Ltd., a subsidiary of
the Company to Daiichi Kasei Co., Ltd. at a total cash consideration of MYR
7,267,192.00.
News
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate (Period
Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
39.7 |
38.2 |
25.8 |
27.6 |
33.5 |
|
Revenue |
39.7 |
38.2 |
25.8 |
27.6 |
33.5 |
|
Total Revenue |
39.7 |
38.2 |
25.8 |
27.6 |
33.5 |
|
|
|
|
|
|
|
|
Cost of Revenue |
34.0 |
30.4 |
22.8 |
22.2 |
23.9 |
|
Cost of Revenue, Total |
34.0 |
30.4 |
22.8 |
22.2 |
23.9 |
|
Gross Profit |
5.7 |
7.8 |
3.0 |
5.4 |
9.6 |
|
|
|
|
|
|
|
|
Selling/General/Administrative
Expense |
2.2 |
2.2 |
1.6 |
2.4 |
2.1 |
|
Labor & Related Expense |
2.3 |
2.2 |
1.7 |
1.9 |
1.9 |
|
Total Selling/General/Administrative Expenses |
4.5 |
4.4 |
3.3 |
4.3 |
4.0 |
|
Research & Development |
0.8 |
0.8 |
0.7 |
0.7 |
0.6 |
|
Litigation |
- |
- |
0.0 |
0.1 |
0.0 |
|
Impairment-Assets Held for Use |
0.1 |
0.1 |
0.2 |
0.0 |
0.0 |
|
Impairment-Assets Held for Sale |
0.0 |
0.3 |
0.0 |
0.0 |
0.0 |
|
Other Unusual Expense (Income) |
-0.6 |
0.0 |
-0.2 |
0.1 |
0.1 |
|
Unusual Expense (Income) |
-0.6 |
0.5 |
0.1 |
0.2 |
0.1 |
|
Total Operating Expense |
38.6 |
36.0 |
26.8 |
27.4 |
28.5 |
|
|
|
|
|
|
|
|
Operating Income |
1.1 |
2.2 |
-1.0 |
0.2 |
5.0 |
|
|
|
|
|
|
|
|
Interest
Expense - Non-Operating |
-0.1 |
-0.2 |
-0.1 |
-0.1 |
-0.1 |
|
Interest Expense, Net
Non-Operating |
-0.1 |
-0.2 |
-0.1 |
-0.1 |
-0.1 |
|
Interest
Income - Non-Operating |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Investment
Income - Non-Operating |
0.7 |
0.5 |
0.2 |
0.5 |
1.0 |
|
Interest/Investment Income -
Non-Operating |
0.7 |
0.5 |
0.3 |
0.5 |
1.1 |
|
Interest Income (Expense) - Net Non-Operating Total |
0.6 |
0.3 |
0.1 |
0.4 |
1.0 |
|
Other Non-Operating Income
(Expense) |
0.4 |
0.3 |
0.2 |
0.3 |
0.4 |
|
Other, Net |
0.4 |
0.3 |
0.2 |
0.3 |
0.4 |
|
Income Before Tax |
2.1 |
2.8 |
-0.7 |
1.0 |
6.3 |
|
|
|
|
|
|
|
|
Total Income Tax |
0.9 |
1.3 |
-0.3 |
0.6 |
2.8 |
|
Income After Tax |
1.1 |
1.5 |
-0.4 |
0.4 |
3.6 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
1.1 |
1.5 |
-0.4 |
0.4 |
3.6 |
|
Net Income |
1.1 |
1.5 |
-0.4 |
0.4 |
3.6 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
1.1 |
1.5 |
-0.4 |
0.4 |
3.6 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
1.1 |
1.5 |
-0.4 |
0.4 |
3.6 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
5.6 |
5.6 |
5.6 |
5.6 |
5.6 |
|
Basic EPS Excl Extraord Items |
0.20 |
0.27 |
-0.07 |
0.06 |
0.64 |
|
Basic/Primary EPS Incl Extraord Items |
0.20 |
0.27 |
-0.07 |
0.06 |
0.64 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
1.1 |
1.5 |
-0.4 |
0.4 |
3.6 |
|
Diluted Weighted Average Shares |
5.6 |
5.6 |
5.6 |
5.6 |
5.6 |
|
Diluted EPS Excl Extraord Items |
0.20 |
0.27 |
-0.07 |
0.06 |
0.64 |
|
Diluted EPS Incl Extraord Items |
0.20 |
0.27 |
-0.07 |
0.06 |
0.64 |
|
Dividends per Share - Common Stock Primary Issue |
0.09 |
0.08 |
0.05 |
0.05 |
0.10 |
|
Gross Dividends - Common Stock |
0.5 |
0.5 |
0.3 |
0.3 |
0.6 |
|
Interest Expense, Supplemental |
0.1 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Depreciation, Supplemental |
1.0 |
1.0 |
1.1 |
1.1 |
0.9 |
|
Total Special Items |
-0.6 |
0.5 |
0.1 |
0.2 |
0.1 |
|
Normalized Income Before Tax |
1.5 |
3.3 |
-0.6 |
1.2 |
6.4 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-0.3 |
0.2 |
0.0 |
0.1 |
0.1 |
|
Inc Tax Ex Impact of Sp Items |
0.7 |
1.5 |
-0.3 |
0.7 |
2.8 |
|
Normalized Income After Tax |
0.8 |
1.8 |
-0.3 |
0.5 |
3.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
0.8 |
1.8 |
-0.3 |
0.5 |
3.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.15 |
0.32 |
-0.06 |
0.09 |
0.65 |
|
Diluted Normalized EPS |
0.15 |
0.32 |
-0.06 |
0.09 |
0.65 |
|
Rental Expenses |
0.3 |
0.3 |
0.2 |
0.2 |
0.2 |
|
Research & Development Exp, Supplemental |
0.8 |
0.8 |
0.7 |
0.7 |
0.6 |
|
Reported Operating Profit |
0.5 |
2.6 |
-1.0 |
0.5 |
5.1 |
|
Reported Ordinary Profit |
1.5 |
3.3 |
-0.6 |
1.2 |
6.4 |
|
Normalized EBIT |
0.5 |
2.6 |
-1.0 |
0.5 |
5.1 |
|
Normalized EBITDA |
1.6 |
3.6 |
0.1 |
1.5 |
6.0 |
|
Current Tax - Total |
0.7 |
- |
- |
- |
- |
|
Current Tax - Total |
0.7 |
- |
- |
- |
- |
|
Deferred Tax - Total |
0.3 |
- |
- |
- |
- |
|
Deferred Tax - Total |
0.3 |
- |
- |
- |
- |
|
Income Tax - Total |
0.9 |
- |
- |
- |
- |
|
Service Cost - Domestic |
0.3 |
- |
0.3 |
0.3 |
0.2 |
|
Domestic Pension Plan Expense |
0.3 |
- |
0.3 |
0.3 |
0.2 |
|
Total Pension Expense |
0.3 |
- |
0.3 |
0.3 |
0.2 |
|
Total Plan Service Cost |
0.3 |
- |
0.3 |
0.3 |
0.2 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.385362 |
82.88 |
93.44 |
98.77 |
99.535 |
|
Auditor |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
12.8 |
18.8 |
16.1 |
10.6 |
12.5 |
|
Cash and Short Term Investments |
12.8 |
18.8 |
16.1 |
10.6 |
12.5 |
|
Trade Accounts Receivable - Net |
9.8 |
10.9 |
7.3 |
4.6 |
8.1 |
|
Other Receivables |
0.3 |
0.0 |
- |
- |
- |
|
Total Receivables, Net |
10.1 |
10.9 |
7.3 |
4.6 |
8.1 |
|
Inventories - Finished Goods |
4.2 |
1.7 |
1.3 |
4.4 |
3.8 |
|
Inventories - Work In Progress |
0.4 |
0.3 |
0.1 |
0.1 |
0.3 |
|
Inventories - Raw Materials |
0.7 |
0.7 |
0.6 |
0.5 |
0.6 |
|
Total Inventory |
5.3 |
2.8 |
2.0 |
5.1 |
4.7 |
|
Deferred Income Tax - Current
Asset |
0.3 |
0.5 |
0.5 |
0.3 |
0.3 |
|
Other Current Assets |
0.4 |
1.2 |
0.9 |
2.0 |
1.2 |
|
Other Current Assets, Total |
0.7 |
1.7 |
1.4 |
2.2 |
1.6 |
|
Total Current Assets |
28.9 |
34.2 |
26.8 |
22.5 |
26.8 |
|
|
|
|
|
|
|
|
Buildings |
8.7 |
8.3 |
7.4 |
7.7 |
7.6 |
|
Land/Improvements |
2.6 |
2.6 |
2.3 |
2.3 |
2.3 |
|
Machinery/Equipment |
17.3 |
17.3 |
15.1 |
14.3 |
13.8 |
|
Construction
in Progress |
0.0 |
0.0 |
- |
- |
- |
|
Property/Plant/Equipment - Gross |
28.5 |
28.2 |
24.7 |
24.4 |
23.7 |
|
Accumulated Depreciation |
-22.2 |
-21.7 |
-18.4 |
-17.3 |
-16.2 |
|
Property/Plant/Equipment - Net |
6.3 |
6.5 |
6.3 |
7.1 |
7.5 |
|
Intangibles, Net |
0.2 |
0.2 |
0.2 |
0.2 |
0.1 |
|
LT Investments - Other |
1.5 |
1.2 |
1.4 |
1.3 |
1.3 |
|
Long Term Investments |
1.5 |
1.2 |
1.4 |
1.3 |
1.3 |
|
Note Receivable - Long Term |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Deferred Income Tax - Long Term
Asset |
0.5 |
0.6 |
0.4 |
0.4 |
0.4 |
|
Other Long Term Assets |
2.0 |
1.9 |
1.6 |
1.2 |
1.3 |
|
Other Long Term Assets, Total |
2.5 |
2.5 |
2.0 |
1.6 |
1.7 |
|
Total Assets |
39.4 |
44.6 |
36.8 |
32.9 |
37.5 |
|
|
|
|
|
|
|
|
Accounts Payable |
3.9 |
3.4 |
2.7 |
1.2 |
3.6 |
|
Accrued Expenses |
0.3 |
0.3 |
0.2 |
0.4 |
0.5 |
|
Notes Payable/Short Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
4.4 |
4.4 |
0.7 |
6.6 |
0.5 |
|
Income Taxes Payable |
0.0 |
1.3 |
0.0 |
0.1 |
1.8 |
|
Deferred Income Tax - Current
Liability |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Current Liabilities |
1.0 |
1.3 |
0.7 |
0.9 |
1.1 |
|
Other Current liabilities, Total |
1.0 |
2.6 |
0.7 |
0.9 |
2.9 |
|
Total Current Liabilities |
9.7 |
10.7 |
4.3 |
9.1 |
7.5 |
|
|
|
|
|
|
|
|
Long Term Debt |
0.9 |
5.2 |
8.5 |
0.2 |
6.7 |
|
Capital Lease Obligations |
0.0 |
0.0 |
0.1 |
0.1 |
0.0 |
|
Total Long Term Debt |
0.9 |
5.3 |
8.6 |
0.3 |
6.7 |
|
Total Debt |
5.3 |
9.7 |
9.3 |
6.9 |
7.2 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
0.0 |
0.0 |
0.0 |
0.3 |
0.2 |
|
Deferred Income Tax |
0.0 |
0.0 |
0.0 |
0.3 |
0.2 |
|
Pension Benefits - Underfunded |
1.6 |
1.6 |
1.1 |
1.0 |
0.7 |
|
Other Long Term Liabilities |
0.0 |
- |
- |
- |
- |
|
Other Liabilities, Total |
1.6 |
1.6 |
1.1 |
1.0 |
0.7 |
|
Total Liabilities |
12.1 |
17.6 |
14.0 |
10.6 |
15.2 |
|
|
|
|
|
|
|
|
Common Stock |
5.0 |
5.0 |
4.4 |
4.2 |
4.2 |
|
Common Stock |
5.0 |
5.0 |
4.4 |
4.2 |
4.2 |
|
Additional Paid-In Capital |
3.0 |
3.5 |
3.1 |
2.9 |
2.9 |
|
Retained Earnings (Accumulated Deficit) |
26.5 |
25.7 |
21.7 |
21.2 |
21.3 |
|
Treasury Stock - Common |
-7.1 |
-7.1 |
-6.3 |
-6.0 |
-5.9 |
|
Unrealized Gain (Loss) |
0.0 |
0.0 |
-0.1 |
0.0 |
0.0 |
|
Translation Adjustment |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Other Equity, Total |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Total Equity |
27.3 |
27.0 |
22.8 |
22.3 |
22.4 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
39.4 |
44.6 |
36.8 |
32.9 |
37.5 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock
Primary Issue |
5.6 |
5.6 |
5.6 |
5.6 |
5.6 |
|
Total Common Shares Outstanding |
5.6 |
5.6 |
5.6 |
5.6 |
5.6 |
|
Treasury Shares - Common Stock Primary Issue |
1.2 |
1.2 |
1.2 |
1.2 |
1.2 |
|
Employees |
104 |
102 |
103 |
108 |
107 |
|
Number of Common Shareholders |
476 |
490 |
498 |
521 |
492 |
|
Total Long Term Debt, Supplemental |
5.2 |
- |
9.1 |
6.8 |
7.2 |
|
Long Term Debt Maturing within 1 Year |
4.4 |
- |
0.7 |
6.6 |
0.5 |
|
Long Term Debt Maturing in Year 2 |
0.7 |
- |
3.9 |
0.2 |
6.5 |
|
Long Term Debt Maturing in Year 3 |
0.1 |
- |
3.9 |
- |
0.2 |
|
Long Term Debt Maturing in Year 4 |
- |
- |
0.7 |
- |
- |
|
Long Term Debt Maturing in Year 5 |
- |
- |
0.1 |
- |
- |
|
Long Term Debt Maturing in 2-3 Years |
0.9 |
- |
7.7 |
0.2 |
6.7 |
|
Long Term Debt Maturing in 4-5 Years |
- |
- |
0.8 |
- |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
- |
0.0 |
0.0 |
0.0 |
|
Total Capital Leases, Supplemental |
0.0 |
- |
0.1 |
0.2 |
- |
|
Capital Lease Payments Due in Year 1 |
0.0 |
- |
0.0 |
0.0 |
- |
|
Capital Lease Payments Due in Year 2 |
- |
- |
0.0 |
0.0 |
- |
|
Capital Lease Payments Due in Year 3 |
- |
- |
0.0 |
0.0 |
- |
|
Capital Lease Payments Due in Year 4 |
- |
- |
0.0 |
0.0 |
- |
|
Capital Lease Payments Due in 2-3 Years |
- |
- |
0.1 |
0.1 |
- |
|
Capital Lease Payments Due in 4-5 Years |
- |
- |
0.0 |
0.0 |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.0 |
- |
- |
- |
- |
|
Pension Obligation - Domestic |
3.5 |
- |
3.3 |
3.0 |
2.8 |
|
Plan Assets - Domestic |
2.4 |
- |
2.4 |
2.3 |
2.3 |
|
Funded Status - Domestic |
-1.1 |
- |
-0.9 |
-0.7 |
-0.5 |
|
Total Funded Status |
-1.1 |
- |
-0.9 |
-0.7 |
-0.5 |
|
Accrued Liabilities - Domestic |
-1.1 |
- |
-0.9 |
-0.7 |
- |
|
Net Assets Recognized on Balance Sheet |
-1.1 |
- |
-0.9 |
-0.7 |
- |
|
Total Plan Obligations |
3.5 |
- |
3.3 |
3.0 |
2.8 |
|
Total Plan Assets |
2.4 |
- |
2.4 |
2.3 |
2.3 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate (Period
Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
2.1 |
2.8 |
-0.7 |
1.0 |
6.3 |
|
Depreciation |
1.0 |
1.0 |
1.1 |
1.1 |
0.9 |
|
Depreciation/Depletion |
1.0 |
1.0 |
1.1 |
1.1 |
0.9 |
|
Unusual Items |
-0.6 |
0.5 |
0.2 |
0.0 |
-1.0 |
|
Equity in Net Earnings (Loss) |
-0.7 |
-0.5 |
-0.2 |
-0.5 |
- |
|
Other Non-Cash Items |
0.1 |
0.4 |
0.2 |
0.4 |
0.3 |
|
Non-Cash Items |
-1.2 |
0.4 |
0.2 |
-0.1 |
-0.7 |
|
Accounts Receivable |
2.0 |
-2.6 |
-2.4 |
3.4 |
0.9 |
|
Inventories |
-2.6 |
-0.5 |
3.4 |
-0.3 |
-1.2 |
|
Accounts Payable |
0.2 |
0.8 |
1.3 |
-2.6 |
0.9 |
|
Accrued Expenses |
0.0 |
0.2 |
-0.2 |
-0.2 |
0.0 |
|
Other Liabilities |
- |
- |
- |
- |
0.0 |
|
Other Operating Cash Flow |
-1.8 |
0.0 |
0.9 |
-2.4 |
-1.4 |
|
Changes in Working Capital |
-2.2 |
-2.1 |
3.0 |
-2.0 |
-0.8 |
|
Cash from Operating Activities |
-0.3 |
2.1 |
3.6 |
-0.1 |
5.7 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-0.7 |
-0.3 |
-0.3 |
-0.6 |
-0.7 |
|
Purchase/Acquisition of
Intangibles |
-0.1 |
0.0 |
0.0 |
-0.2 |
0.0 |
|
Capital Expenditures |
-0.8 |
-0.3 |
-0.3 |
-0.7 |
-0.8 |
|
Purchase of Investments |
0.0 |
0.0 |
-0.1 |
0.0 |
0.0 |
|
Other Investing Cash Flow |
-0.2 |
0.0 |
0.1 |
0.1 |
0.2 |
|
Other Investing Cash Flow Items, Total |
-0.2 |
-0.1 |
0.0 |
0.1 |
0.1 |
|
Cash from Investing Activities |
-1.0 |
-0.4 |
-0.2 |
-0.7 |
-0.6 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
0.0 |
- |
- |
- |
- |
|
Financing Cash Flow Items |
0.0 |
- |
- |
- |
- |
|
Cash Dividends Paid - Common |
-0.5 |
-0.3 |
-0.3 |
-0.7 |
-0.6 |
|
Total Cash Dividends Paid |
-0.5 |
-0.3 |
-0.3 |
-0.7 |
-0.6 |
|
Repurchase/Retirement
of Common |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Common Stock, Net |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Short Term Debt, Net |
- |
- |
- |
0.0 |
-0.9 |
|
Long Term
Debt Issued |
- |
0.0 |
9.7 |
0.0 |
- |
|
Long Term
Debt Reduction |
-4.6 |
-0.8 |
-7.7 |
-0.5 |
-0.4 |
|
Long Term Debt, Net |
-4.6 |
-0.8 |
2.0 |
-0.5 |
-0.4 |
|
Issuance (Retirement) of Debt, Net |
-4.6 |
-0.8 |
2.0 |
-0.5 |
-1.3 |
|
Cash from Financing Activities |
-5.1 |
-1.1 |
1.7 |
-1.2 |
-1.9 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-6.5 |
0.6 |
5.0 |
-2.0 |
3.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
19.8 |
17.6 |
11.2 |
12.4 |
7.7 |
|
Net Cash - Ending Balance |
13.3 |
18.2 |
16.2 |
10.4 |
10.9 |
|
Cash Interest Paid |
0.1 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Cash Taxes Paid |
2.4 |
0.1 |
-0.9 |
2.8 |
1.7 |
Annual Income
Statement
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate (Period
Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net sales |
39.7 |
38.2 |
25.8 |
27.6 |
33.5 |
|
Total Revenue |
39.7 |
38.2 |
25.8 |
27.6 |
33.5 |
|
|
|
|
|
|
|
|
Cost of Sales |
34.0 |
30.4 |
22.8 |
22.2 |
23.9 |
|
Other Selling/General/Admin.
Expense |
1.8 |
- |
- |
- |
- |
|
Director's remuneration |
1.1 |
1.0 |
0.7 |
0.7 |
0.8 |
|
Payrolls & Bonus |
0.8 |
0.8 |
1.0 |
1.2 |
1.1 |
|
Commissions |
- |
- |
0.2 |
0.3 |
0.3 |
|
Rental |
0.3 |
0.3 |
0.2 |
0.2 |
0.2 |
|
R & D expenses |
0.8 |
0.8 |
0.7 |
0.7 |
0.6 |
|
Periodic retire. exp. |
0.0 |
0.0 |
- |
- |
- |
|
Provision for Directors' Bonus |
0.1 |
0.1 |
- |
- |
- |
|
Provision for Bonus |
0.1 |
0.1 |
- |
- |
- |
|
Res for dirs' retire. bene. |
0.1 |
0.2 |
- |
- |
- |
|
Other SGA expense |
- |
1.9 |
1.1 |
1.8 |
1.6 |
|
Gain On Reversal Of Subscription
Rights |
-0.6 |
- |
- |
- |
- |
|
SP G on reversal of subscription
rights |
- |
0.0 |
- |
- |
- |
|
SP Reversal G. on bonus reserve |
- |
0.0 |
-0.2 |
0.0 |
- |
|
SP Reversal G. on dirs' retire.
benefit |
- |
0.0 |
0.0 |
0.0 |
- |
|
SP Loss retire fixed asset |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
SP Valution LT investment sec |
0.0 |
0.3 |
0.0 |
- |
- |
|
SP Impairment loss |
0.0 |
0.1 |
0.2 |
0.0 |
- |
|
SP L on val. of telephone rights |
- |
- |
0.0 |
0.0 |
0.0 |
|
SP Settlement expenses |
- |
- |
0.0 |
0.1 |
0.0 |
|
SP Director's retirement |
- |
- |
- |
0.0 |
0.0 |
|
SP Main office relocation |
- |
- |
- |
- |
0.0 |
|
SP Product claim loss |
- |
- |
0.0 |
0.1 |
0.1 |
|
SP Other Special losses |
- |
- |
- |
- |
0.0 |
|
Total Operating Expense |
38.6 |
36.0 |
26.8 |
27.4 |
28.5 |
|
|
|
|
|
|
|
|
NOP Interest income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
NOP Dividends received |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
NOP Equity gain |
0.7 |
0.5 |
0.2 |
0.5 |
1.0 |
|
Other Non-Operating Income
(Expense) |
0.0 |
- |
- |
- |
- |
|
NOP Purchase discount |
0.4 |
0.3 |
0.2 |
0.2 |
0.2 |
|
NOP Reversal insurance cancel. |
- |
- |
0.0 |
0.0 |
0.1 |
|
NOP Subsidy income |
- |
0.0 |
0.0 |
0.0 |
- |
|
NOP Other non-operating income |
0.0 |
0.1 |
0.1 |
0.1 |
0.1 |
|
NOP Interest expenses |
-0.1 |
-0.2 |
-0.1 |
-0.1 |
-0.1 |
|
NOP Stock issuance related |
- |
- |
- |
- |
0.0 |
|
NOP Other non-operating expenses |
0.0 |
0.0 |
-0.1 |
-0.1 |
0.0 |
|
SP G on sale of LT inv't.
secs.(SP) |
- |
- |
- |
- |
0.0 |
|
Net Income Before Taxes |
2.1 |
2.8 |
-0.7 |
1.0 |
6.3 |
|
|
|
|
|
|
|
|
Total income taxes |
0.9 |
1.3 |
-0.3 |
0.6 |
2.8 |
|
Net Income After Taxes |
1.1 |
1.5 |
-0.4 |
0.4 |
3.6 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
1.1 |
1.5 |
-0.4 |
0.4 |
3.6 |
|
Net Income |
1.1 |
1.5 |
-0.4 |
0.4 |
3.6 |
|
|
|
|
|
|
|
|
Adjustment |
- |
0.0 |
0.0 |
- |
- |
|
Bonus to directors |
- |
- |
0.0 |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
1.1 |
1.5 |
-0.4 |
0.4 |
3.6 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
1.1 |
1.5 |
-0.4 |
0.4 |
3.6 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
5.6 |
5.6 |
5.6 |
5.6 |
5.6 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.20 |
0.27 |
-0.07 |
0.06 |
0.64 |
|
Basic EPS Including ExtraOrdinary Items |
0.20 |
0.27 |
-0.07 |
0.06 |
0.64 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
1.1 |
1.5 |
-0.4 |
0.4 |
3.6 |
|
Diluted Weighted Average Shares |
5.6 |
5.6 |
5.6 |
5.6 |
5.6 |
|
Diluted EPS Excluding ExtraOrd Items |
0.20 |
0.27 |
-0.07 |
0.06 |
0.64 |
|
Diluted EPS Including ExtraOrd Items |
0.20 |
0.27 |
-0.07 |
0.06 |
0.64 |
|
DPS-Common Stock |
0.09 |
0.08 |
0.05 |
0.05 |
0.10 |
|
Gross Dividends - Common Stock |
0.5 |
0.5 |
0.3 |
0.3 |
0.6 |
|
Normalized Income Before Taxes |
1.5 |
3.3 |
-0.6 |
1.2 |
6.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.7 |
1.5 |
-0.3 |
0.7 |
2.8 |
|
Normalized Income After Taxes |
0.8 |
1.8 |
-0.3 |
0.5 |
3.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
0.8 |
1.8 |
-0.3 |
0.5 |
3.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.15 |
0.32 |
-0.06 |
0.09 |
0.65 |
|
Diluted Normalized EPS |
0.15 |
0.32 |
-0.06 |
0.09 |
0.65 |
|
Interest expenses |
0.1 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Research and Development(SGA) |
0.8 |
0.8 |
0.7 |
0.7 |
0.6 |
|
Rent expense |
0.3 |
0.3 |
0.2 |
0.2 |
0.2 |
|
Amort of Tangible Assets-Current Portion |
1.0 |
- |
- |
- |
- |
|
Depreciation expense |
- |
1.0 |
1.1 |
1.1 |
0.9 |
|
Income taxes-current |
0.7 |
- |
- |
- |
- |
|
Current Tax - Total |
0.7 |
- |
- |
- |
- |
|
Income taxes-deferred |
0.3 |
- |
- |
- |
- |
|
Deferred Tax - Total |
0.3 |
- |
- |
- |
- |
|
Income Tax - Total |
0.9 |
- |
- |
- |
- |
|
Reported operating profit |
0.5 |
2.6 |
-1.0 |
0.5 |
5.1 |
|
Reported ordinary profit |
1.5 |
3.3 |
-0.6 |
1.2 |
6.4 |
|
Service cost |
0.3 |
- |
0.3 |
0.3 |
0.2 |
|
Domestic Pension Plan Expense |
0.3 |
- |
0.3 |
0.3 |
0.2 |
|
Total Pension Expense |
0.3 |
- |
0.3 |
0.3 |
0.2 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
82.385362 |
82.88 |
93.44 |
98.77 |
99.535 |
|
Auditor |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash & deposits |
12.8 |
18.8 |
16.1 |
10.6 |
12.5 |
|
Notes and accounts
receivable-trade |
9.8 |
10.9 |
7.3 |
4.6 |
8.1 |
|
Merchandise & finished goods |
4.2 |
1.7 |
1.3 |
4.4 |
3.8 |
|
Inventories - work-in-process |
0.4 |
0.3 |
0.1 |
0.1 |
0.3 |
|
Inventories- raw
materials&supplies |
0.7 |
0.7 |
0.6 |
0.5 |
0.6 |
|
Income Taxes Receivable |
0.3 |
- |
- |
- |
- |
|
Income taxes receivable |
- |
0.0 |
- |
- |
- |
|
Deferred income taxes |
0.3 |
0.5 |
0.5 |
0.3 |
0.3 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Current assets other |
0.4 |
1.2 |
0.9 |
2.0 |
1.2 |
|
Total Current Assets |
28.9 |
34.2 |
26.8 |
22.5 |
26.8 |
|
|
|
|
|
|
|
|
Buildings & structures, gross |
8.7 |
8.3 |
7.4 |
7.7 |
7.6 |
|
Buildings &
structures-depreciation |
-6.3 |
-6.0 |
-5.1 |
-5.0 |
-4.7 |
|
Machinery, equipment and vehicles |
16.0 |
16.1 |
14.1 |
13.3 |
12.8 |
|
Accumulated depreciation |
-14.8 |
-14.6 |
-12.5 |
-11.4 |
-10.7 |
|
Tools, furniture and fixtures |
1.2 |
1.2 |
1.0 |
1.0 |
1.1 |
|
Tools/equipments/fixtures-depreciation |
-1.1 |
-1.0 |
-0.9 |
-0.8 |
-0.9 |
|
Land |
2.6 |
2.6 |
2.3 |
2.3 |
2.3 |
|
Construction in progress |
0.0 |
- |
- |
- |
- |
|
Construction in progress |
- |
0.0 |
- |
- |
- |
|
Total intangible assets |
0.2 |
0.2 |
0.2 |
0.2 |
0.1 |
|
Long-term investment in securities |
0.8 |
0.8 |
0.8 |
0.8 |
0.8 |
|
Other-secs.nonconsolid.affiliates |
0.7 |
0.5 |
0.6 |
0.5 |
0.6 |
|
Long-term loans receivable from
employee |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Insurance fund |
1.6 |
1.4 |
1.1 |
0.9 |
0.9 |
|
Deferred tax assets |
0.5 |
0.6 |
0.4 |
0.4 |
0.4 |
|
Other assets |
0.4 |
0.4 |
0.5 |
0.3 |
0.3 |
|
Adjustment |
- |
- |
- |
0.0 |
0.0 |
|
Property/Plant/Equipment, Total
- Net |
0.0 |
- |
- |
- |
- |
|
Total Assets |
39.4 |
44.6 |
36.8 |
32.9 |
37.5 |
|
|
|
|
|
|
|
|
Trade accounts & notes payable |
- |
- |
- |
- |
3.6 |
|
Accounts payable-trade |
3.9 |
3.4 |
2.7 |
1.2 |
- |
|
Current portion of long-term loans
payab |
4.4 |
4.4 |
0.7 |
6.6 |
0.5 |
|
Income taxes payable |
0.0 |
1.3 |
0.0 |
0.1 |
1.8 |
|
Current Lease Obligation |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Reserve for bonuses |
0.2 |
0.2 |
0.2 |
0.4 |
0.4 |
|
Provision for directors'' bonuses |
0.1 |
0.1 |
- |
0.0 |
0.1 |
|
Deferred tax liabilities |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Other current liabilities |
1.0 |
1.3 |
0.7 |
0.9 |
1.1 |
|
Total Current Liabilities |
9.7 |
10.7 |
4.3 |
9.1 |
7.5 |
|
|
|
|
|
|
|
|
Lease obligations |
0.0 |
0.0 |
0.1 |
0.1 |
0.0 |
|
Long-term loans payable |
0.9 |
5.2 |
8.5 |
0.2 |
6.7 |
|
Total Long Term Debt |
0.9 |
5.3 |
8.6 |
0.3 |
6.7 |
|
|
|
|
|
|
|
|
Deferred tax liabilities
(non-current) |
0.0 |
0.0 |
0.0 |
0.3 |
0.2 |
|
Reserve for retirement benefits |
1.1 |
1.1 |
0.9 |
0.7 |
0.5 |
|
Provision for directors''
retirement ben |
0.5 |
0.5 |
0.3 |
0.3 |
0.2 |
|
Other Long Term Liabilities |
0.0 |
- |
- |
- |
- |
|
Total Liabilities |
12.1 |
17.6 |
14.0 |
10.6 |
15.2 |
|
|
|
|
|
|
|
|
Rounding adjustment Equity |
0.0 |
- |
- |
- |
- |
|
Common stock |
5.0 |
5.0 |
4.4 |
4.2 |
4.2 |
|
Total capital surpluses |
2.9 |
2.9 |
2.6 |
2.4 |
2.4 |
|
Total retained earnings |
26.5 |
25.7 |
21.7 |
21.2 |
21.3 |
|
Valuation difference on
available-for-sa |
0.0 |
0.0 |
-0.1 |
0.0 |
0.0 |
|
Translation adjustment |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Stock subscription right |
0.1 |
0.6 |
0.5 |
0.5 |
0.5 |
|
Treasury stocks |
-7.1 |
-7.1 |
-6.3 |
-6.0 |
-5.9 |
|
Total Equity |
27.3 |
27.0 |
22.8 |
22.3 |
22.4 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
39.4 |
44.6 |
36.8 |
32.9 |
37.5 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
5.6 |
5.6 |
5.6 |
5.6 |
5.6 |
|
Total Common Shares Outstanding |
5.6 |
5.6 |
5.6 |
5.6 |
5.6 |
|
T/S-Common Stock |
1.2 |
1.2 |
1.2 |
1.2 |
1.2 |
|
Full-Time Employees |
104 |
102 |
103 |
108 |
107 |
|
Total Number of Shareholders |
476 |
- |
- |
- |
- |
|
Number of Common Shareholders |
- |
490 |
498 |
521 |
492 |
|
LT debt due within 1 year |
4.4 |
- |
0.7 |
6.6 |
0.5 |
|
Lns Pble Maturing over a Yr within 2 Yrs |
0.7 |
- |
- |
- |
- |
|
LT debt due from 1 to 2 year |
- |
- |
3.9 |
0.2 |
6.5 |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
0.1 |
- |
- |
- |
- |
|
LT debt due from 2 to 3 year |
- |
- |
3.9 |
- |
0.2 |
|
LT debt due from 3 to 4 year |
- |
- |
0.7 |
- |
- |
|
LT debt due from 4 to 5 year |
- |
- |
0.1 |
- |
- |
|
Total Long Term Debt, Supplemental |
5.2 |
- |
9.1 |
6.8 |
7.2 |
|
Division And End Of Current Period Remai |
0.0 |
- |
- |
- |
- |
|
Capital Lease Maturing Within 1 Yr |
0.0 |
- |
0.0 |
0.0 |
- |
|
Capital Lease Maturing Within 2 Yr |
- |
- |
0.0 |
0.0 |
- |
|
Capital Lease Maturing Within 3 Yr |
- |
- |
0.0 |
0.0 |
- |
|
Capital Lease Maturing Within 4 Yr |
- |
- |
0.0 |
0.0 |
- |
|
Total Capital Leases |
0.0 |
- |
0.1 |
0.2 |
- |
|
Pension obligation |
3.5 |
- |
3.3 |
3.0 |
2.8 |
|
Fair value of plan asset |
2.4 |
- |
2.4 |
2.3 |
2.3 |
|
Funded status |
-1.1 |
- |
-0.9 |
-0.7 |
-0.5 |
|
Total Funded Status |
-1.1 |
- |
-0.9 |
-0.7 |
-0.5 |
|
Reserve for Accrued Retirement Benefits |
-1.1 |
- |
-0.9 |
-0.7 |
- |
|
Net Assets Recognized on Balance Sheet |
-1.1 |
- |
-0.9 |
-0.7 |
- |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate (Period
Average) |
78.961215 |
85.691434 |
92.941082 |
100.484331 |
114.302336 |
|
Auditor |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
Kudan Audit
Corporation |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net income before taxes |
2.1 |
2.8 |
-0.7 |
1.0 |
6.3 |
|
Depreciation expenses |
1.0 |
1.0 |
1.1 |
1.1 |
0.9 |
|
Increase (decrease) in provision
for bon |
0.0 |
0.0 |
-0.2 |
0.0 |
0.0 |
|
Increase (decrease) in provision
for dir |
0.0 |
0.1 |
0.0 |
-0.1 |
0.0 |
|
Increase (decrease) in provision
for ret |
-0.1 |
0.1 |
0.1 |
0.2 |
0.2 |
|
Increase (decrease) in provision
for dir |
0.0 |
0.2 |
0.0 |
0.0 |
0.0 |
|
Gain on reversal of subscription
rights |
-0.6 |
- |
- |
- |
- |
|
Impairment loss |
0.0 |
0.1 |
0.2 |
0.0 |
- |
|
L on val. of telephone rights |
- |
- |
0.0 |
0.0 |
0.0 |
|
Stock remuneration expense |
- |
- |
0.0 |
0.0 |
- |
|
Stock subscription increase |
- |
- |
- |
- |
0.0 |
|
Loss (gain) on valuation of
investment s |
0.0 |
0.3 |
0.0 |
- |
- |
|
Gain on reversal of subscription
rights |
- |
0.0 |
- |
- |
- |
|
Reversal of int.& dividends
rcvd. |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
G/L on sale of LT inv't in secs. |
- |
- |
- |
- |
-1.0 |
|
Equity in (earnings) losses of
affiliate |
-0.7 |
-0.5 |
-0.2 |
-0.5 |
- |
|
Loss on retirement of property,
plant an |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest expenses |
0.1 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Decrease (increase) in consumption
taxes |
0.8 |
- |
- |
- |
- |
|
Decrease (increase) in notes and
account |
1.2 |
-2.6 |
-2.4 |
3.4 |
0.9 |
|
Decrease (increase) in inventories |
-2.6 |
-0.5 |
3.4 |
-0.3 |
-1.2 |
|
Increase (decrease) in notes and
account |
0.5 |
0.3 |
1.5 |
-2.4 |
0.5 |
|
Increase (decrease) in accounts
payable- |
-0.3 |
0.5 |
-0.2 |
-0.2 |
0.4 |
|
Other Operating Cash Flow |
0.0 |
- |
- |
- |
- |
|
Increase/Decrease in insurance
reserve |
- |
- |
- |
- |
0.0 |
|
Bonuses to directors |
- |
- |
- |
- |
-0.1 |
|
Other, net |
0.1 |
-0.3 |
0.0 |
0.2 |
-0.2 |
|
Int & div.received(cash basis) |
0.6 |
0.6 |
0.3 |
0.3 |
0.6 |
|
Interest paid (cash basis) |
-0.1 |
-0.2 |
-0.1 |
-0.1 |
-0.1 |
|
Income taxes refund |
0.0 |
0.2 |
1.2 |
0.0 |
- |
|
Income taxes paid |
-2.4 |
-0.3 |
-0.3 |
-2.8 |
-1.7 |
|
Adjustment |
- |
- |
0.0 |
- |
- |
|
Cash from Operating Activities |
-0.3 |
2.1 |
3.6 |
-0.1 |
5.7 |
|
|
|
|
|
|
|
|
Purchase of property, plant and
equipmen |
-0.7 |
-0.3 |
-0.3 |
-0.6 |
-0.7 |
|
Purchase of intangible assets |
-0.1 |
0.0 |
0.0 |
-0.2 |
0.0 |
|
Purchase of LT inv't in sec. |
0.0 |
0.0 |
-0.1 |
0.0 |
0.0 |
|
Loans collected |
0.0 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Loan made |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other, net |
-0.2 |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Cash from Investing Activities |
-1.0 |
-0.4 |
-0.2 |
-0.7 |
-0.6 |
|
|
|
|
|
|
|
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Change in short-term debt, net |
- |
- |
- |
0.0 |
-0.9 |
|
Proceeds from long-term loans
payable |
- |
0.0 |
9.7 |
0.0 |
- |
|
Repayment of long-term loans
payable |
-4.6 |
-0.7 |
-7.7 |
-0.5 |
-0.4 |
|
Purchase treasury |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Repayment of finance lease |
-0.1 |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Cash dividends paid |
-0.5 |
-0.3 |
-0.3 |
-0.7 |
-0.6 |
|
Cash from Financing Activities |
-5.1 |
-1.1 |
1.7 |
-1.2 |
-1.9 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-6.5 |
0.6 |
5.0 |
-2.0 |
3.2 |
|
|
|
|
|
|
|
|
Cash at beginning of year |
19.8 |
17.6 |
11.2 |
12.4 |
7.7 |
|
Cash and cash equivalents at end of year |
13.3 |
18.2 |
16.2 |
10.4 |
10.9 |
|
Cash Interest Paid |
0.1 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Cash Taxes Paid |
2.4 |
0.1 |
-0.9 |
2.8 |
1.7 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.08 |
|
|
1 |
Rs.83.11 |
|
Euro |
1 |
Rs.72.01 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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%)