MIRA
INFORM REPORT
|
Report Date : |
23.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
ZEON CORPORATION |
|
|
|
|
Registered Office : |
1-6-2 Marunouchi, Tokyo, 100-8246 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
12.04.1950 |
|
|
|
|
Legal Form : |
Public Parent |
|
|
|
|
Line of Business : |
Manufacturer that operates in three business segments |
|
|
|
|
No. of Employees : |
2,857 |
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
ZEON
CORPORATION
1-6-2 Marunouchi,
Tokyo, 100-8246
Japan
Tel: 81-3-32161772
Fax: 81-3-32160501
Website: www.zeon.co.jp
Employees: 2,857
Company Type: Public Parent
Corporate Family: 11 Companies
Traded: Tokyo
Stock Exchange: 4205
Incorporation Date: 12-Apr-1950
Auditor: Ernst & Young
ShinNihon LLC
Financials in: USD (In Millions)
Fiscal Year End: 31-Mar-2012
Reporting Currency: Japanese Yen
Net Income: 242.2
Market Value: 2,106.0
(11-Jan-2013)
Business Description
ZEON CORPORATION is a manufacturer that operates in three
business segments. The Elastomer segment mainly manufactures and sells
synthetic rubber, synthetic latex, petroleum resins and thermoplastic
elastomer. The High-function Material segment mainly manufactures and sells
synthetic perfumes, organic synthetic chemicals, electronic materials,
toner-related products, high-function resins and members, medical equipment.
The Others segment offers reaction injection molding (RIM) products, butadiene
extraction technology, among others. As of March 31, 2012, the Company had 46
subsidiaries and eight associated companies. For the six months ended 30
September 2012, ZEON CORPORATION revenues decreased 5% to Y127.2B. Net income
applicable to common stockholders decreased 55% to Y5.55B. Revenues reflect
Elastomer Material Business segment decrease of 5% to Y84.53B, Highly
Functional Materials Business segment decrease of 11% to Y23.02B. Net income
also reflects Elastomer Material Business segment income decrease of 40% to
Y10.94B.
Industry
|
Industry |
|
|
ANZSIC 2006: |
|
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
|
Name |
Title |
|
President, Representative Director |
|
|
Hiroshi Asahina |
Executive Officer, Chief Director of Production, Manager of General
Production Center, Manager of Production Reformation Center |
|
Teruaki Hiramatsu |
Co-Auditor |
|
Shuichi Kakinuma |
Executive Officer-Procurement & Logistics |
|
Masafumi Miyamoto |
Managing Director-Production |
Significant Developments
|
Topic |
#* |
Most Recent
Headline |
Date |
|
1 |
Zeon Corp
Lowers Mid-year and Full-year Consolidated Outlook for FY 2013 |
26-Sep-2012 |
|
|
2 |
Zeon
Corporation Announces Year-end Dividend Payment for FY Ended March 2012 |
23-May-2012 |
|
|
1 |
R&I
Affirms Zeon Corporation's Rating at "A-"; Changes Rating Outlook
to Positive |
5-Jul-2012 |
* number of
significant developments within the last 12 months
News
|
Title |
Date |
|
Zeon
considers another major investment here |
2-Sep-2011 |
Financial Summary
As of 30-Sep-2012
|
Key Ratios |
Company |
Industry |
|
Current Ratio (MRQ) |
1.31 |
2.03 |
|
Quick Ratio (MRQ) |
0.88 |
1.20 |
|
Debt to Equity (MRQ) |
0.50 |
0.95 |
|
Sales 5 Year Growth |
-1.37 |
1.42 |
|
Net Profit Margin (TTM) % |
5.07 |
4.60 |
|
Return on Assets (TTM) % |
4.23 |
3.98 |
|
Return on Equity (TTM) % |
9.54 |
12.15 |
Stock Snapshot
|
Traded: Tokyo Stock Exchange: 4205 |
||||||||||||||||||||||||||||||
|
As of 11-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
1-6-2 Marunouchi,
Tokyo, 100-8246
Japan
Tel: 81-3-32161772
Fax: 81-3-32160501
Website: www.zeon.co.jp
Quote Symbol –
Exchange 4205 - Tokyo Stock
Exchange
Sales JPY(mil): 262,842.0
Assets JPY(mil): 311,925.0
Employees: 2,857
Fiscal Year End: 31-Mar-2012
Industry: Chemicals
- Plastics and Rubber
Incorporation
Date: 12-Apr-1950
Company Type: Public
Parent
Quoted Status: Quoted
Previous Name: Nippon
Zeon Co Ltd
President, Representative Director: Naozumi Furukawa
|
1821 |
- |
Synthetic Resin and Synthetic Rubber Manufacturing |
|
1812 |
- |
Basic Organic Chemical Manufacturing |
|
2412 |
- |
Medical and Surgical Equipment Manufacturing |
|
1522 |
- |
Paper Bag Manufacturing |
|
19 |
- |
Polymer Product and Rubber Product Manufacturing |
|
1899 |
- |
Other Basic Chemical Product Manufacturing Not Elsewhere Classified |
|
NACE 2002 Codes: |
||
|
2417 |
- |
Manufacture of synthetic rubber in primary forms |
|
2466 |
- |
Manufacture of other chemical products not elsewhere classified |
|
2416 |
- |
Manufacture of plastics in primary forms |
|
2522 |
- |
Manufacture of plastic packing goods |
|
2513 |
- |
Manufacture of other rubber products |
|
3310 |
- |
Manufacture of medical and surgical equipment and orthopaedic appliances |
|
2414 |
- |
Manufacture of other organic basic chemicals |
|
NAICS 2002 Codes: |
||
|
325212 |
- |
Synthetic Rubber Manufacturing |
|
325199 |
- |
All Other Basic Organic Chemical Manufacturing |
|
326111 |
- |
Plastics Bag Manufacturing |
|
325998 |
- |
All Other Miscellaneous Chemical Product and Preparation Manufacturing |
|
325211 |
- |
Plastics Material and Resin Manufacturing |
|
326299 |
- |
All Other Rubber Product Manufacturing |
|
339113 |
- |
Surgical Appliance and Supplies Manufacturing |
|
US SIC 1987: |
||
|
2822 |
- |
Synthetic Rubber (Vulcanizable Elastomers) |
|
2899 |
- |
Chemicals and Chemical Preparations, Not Elsewhere Classified |
|
2821 |
- |
Plastics Materials, Synthetic Resins, and Nonvulcanizable Elastomers |
|
2673 |
- |
Plastics, Foil, and Coated Paper Bags |
|
3842 |
- |
Orthopedic, Prosthetic, and Surgical Appliances and Supplies |
|
3069 |
- |
Fabricated Rubber Products, Not Elsewhere Classified |
|
2869 |
- |
Industrial Organic Chemicals, Not Elsewhere Classified |
|
UK SIC 2003: |
||
|
2417 |
- |
Manufacture of synthetic rubber in primary forms |
|
2414 |
- |
Manufacture of other organic basic chemicals |
|
3310 |
- |
Manufacture of medical and surgical equipment and orthopaedic appliances |
|
2513 |
- |
Manufacture of other rubber products |
|
2522 |
- |
Manufacture of plastic packing goods |
|
2416 |
- |
Manufacture of plastics in primary forms |
|
2466 |
- |
Manufacture of other chemical products not elsewhere classified |
|
UK SIC 2007: |
||
|
2017 |
- |
Manufacture of synthetic rubber in primary forms |
|
2219 |
- |
Manufacture of other rubber products |
|
3250 |
- |
Manufacture of medical and dental instruments and supplies |
|
2222 |
- |
Manufacture of plastic packing goods |
|
2014 |
- |
Manufacture of other organic basic chemicals |
|
2016 |
- |
Manufacture of plastics in primary forms |
|
2059 |
- |
Manufacture of other chemical products n.e.c. |
ZEON CORPORATION is a manufacturer that operates in three business
segments. The Elastomer segment mainly manufactures and sells synthetic rubber,
synthetic latex, petroleum resins and thermoplastic elastomer. The
High-function Material segment mainly manufactures and sells synthetic
perfumes, organic synthetic chemicals, electronic materials, toner-related
products, high-function resins and members, medical equipment. The Others
segment offers reaction injection molding (RIM) products, butadiene extraction
technology, among others. As of March 31, 2012, the Company had 46 subsidiaries
and eight associated companies. For the six months ended 30 September 2012,
ZEON CORPORATION revenues decreased 5% to Y127.2B. Net income applicable to
common stockholders decreased 55% to Y5.55B. Revenues reflect Elastomer Material
Business segment decrease of 5% to Y84.53B, Highly Functional Materials
Business segment decrease of 11% to Y23.02B. Net income also reflects Elastomer
Material Business segment income decrease of 40% to Y10.94B.
More Business Descriptions
Manufacture and sale of synthetic rubbers, polyvinylchloride
resins, C5 hydrocarbon resins, aromatic chemicals and other products
Mfr. of Synthetic Rubber, Synthetic Latices & Chemicals
ZEON CORPORATION (Zeon) manufactures and sells elastomers
and specialty materials. The company operates through three business segments,
namely Elastomer segment, Specialty Materials and Others. The Elastomer segment
of the company is occupied in the production of synthetic rubbers, synthetic
latices, and chemicals. The synthetic rubbers offered by the company include
general-purpose rubbers, which are used for such applications as automobile
tires. The company also offers various specialty rubbers, including NBR and
hydrogenated NBR. The synthetic latices include latex for paper coating
(styrene-butadiene copolymer), and other applications such as processed paper,
fiber treatment agents, adhesives, paints, cosmetic puffs, and rubber gloves.
The chemicals offered by this segment include materials for adhesive tapes and
hot melt adhesives, binder for traffic paints, and concrete admixture. For the
fiscal year ended 2011, the company reported revenue of YEN173,434m for the
Elastomer segment, reflecting an increase of 25.42% over revenue in 2010. The
segment accounted for 63.83% of the company’s total revenue in 2011. The
Specialty Materials business segment of the company provides specialty
chemicals, imaging and electronics materials and specialty plastics. The
specialty chemicals offered by Zeon include synthetic aroma chemicals for the
food and cosmetic industries, synthesized materials for pharmaceutical and
agricultural intermediate production, and various solvents. Zeon's imaging and
electronics materials include various chemicals used for the production of
semiconductors, etching gas, and materials used in rechargeable battery
production. Under its specialty plastics products, the company provides
transparent resin used in products, such as optical lenses, medical devices,
and various general-purpose engineering plastics. For the fiscal year ended
2011, the company reported revenue of YEN49,790m for the Specialty Materials
segment, reflecting a increase of 5.25% over revenue in 2010. The segment
accounted for 18.32% of the company’s total revenue in 2011. The other businesses
segment of Zeon deals with technology licensing, RIM, environmental materials,
and medical products. The company has licensed GBP, GPD, GPI and various
elastomer production technologies developed through its exclusive technology in
23 countries globally. Besides, this segment offers PENTAM, a large-scale
plastic molded product; and also provides septic tanks. In addition, Zeon
develops, manufactures, and sells cardiovascular and gastrointestinal medical
equipment. For the fiscal year ended 2011, the company reported revenue of
YEN48,494m for the other segment, reflecting a increase of 16.42% over revenue
in 2010. The segment accounted for 17.85% of the company’s total revenue in
2011. Its basic strategy is to give continued focus on creating new businesses
(Specialty Materials Business), taking full advantage of steady revenue
generated by existing businesses (Elastomer Business). The research and
development activities of the company are coordinated through its R&D
Center located in Kawasaki, Kanagawa. The company's R&D Center consists of
labs for each business division that daily respond to customer needs, an
Incubation Center that quickly provides new products, and a new business
development department that explores next-generation products. The company
promotes its R&D activities in partnership with customers and outside
research institutes, which include overseas organizations. The manufacturing
sites of the company are spread in different parts of Japan. The important
manufacturing plants of Zeon include Takaoka plant, Kawasaki plant, Tokuyama
plant and Mizushima plant. The sales offices of the company are present in
Osaka and Nagoya. Zeon has four reportable geographic segments, namely, Japan,
North America, Europe, Asia and other. Japan accounted for 52.77%, North
America accounted for 9.07%, Europe accounted for 9.49%, Asia accounted for
27.52% and other accounted for 1.15% of the total revenue for the fiscal year
ended 2011.International Business Machines Corporation and ZEON Corporation are
going to collaborate on Innovative PCBs that enable Ultra-High-Speed Serial
Links operating in excess of 25Gbps, for next-generation servers and mainframe
computers. The Company received the 22th Katashi Aoki Technology Award for the
development of retardation film that has high refractive index along film-
thickness-direction, made by multi-layer extrusion and simultaneous
stretching.On Feb. 2011, it received award for Profile in Sustainability
(Product).
ZEON CORPORATION (Zeon) is a chemical manufacturer, based in
Japan. It operates through three business segments such as the elastomer
segment, specialty materials and others. The company’s product portfolio
include synthetic rubber, synthetic latex, chemical compounds, synthetic
perfumes, organic synthetic chemicals, electronic materials, toner-related
products, high-function resins, reaction injection molding (RIM) equipment,
medical equipment, vinyl compound, packaging materials and housing materials.
Its products find application in industries such as adhesives, paints and
coatings, manufacturing of rechargeable battery, engineering plastics, optical
and other medical devices, and other environmental materials. The operations of
the company are spread across Japan, North America, Europe and Asia. Zeon is
headquartered in Tokyo, Japan.The company reported revenues of (Yen) JPY
262,842.00 million during the fiscal year ended March 2012, a decrease of 2.79%
from 2011. The operating profit of the company was JPY 31,095.00 million during
the fiscal year 2012, a decrease of 4.13% from 2011. The net profit of the
company was JPY 19,127.00 million during the fiscal year 2012, an increase of
4.50% over 2011.
Rubber and Plastics Hoses and Belting Manufacturing
|
Financials in: |
JPY(mil) |
1 Year Growth |
|
Revenue: |
262,842.0 |
-2.8% |
|
Net Income: |
19,127.0 |
4.5% |
|
Assets: |
311,925.0 |
7.3% |
|
Long Term Debt: |
41,201.0 |
|
|
Total Liabilities: |
179,246.0 |
|
|
Working Capital: |
7.3 |
|
|
Date of Financial Data: |
31-Mar-2012 |
|
|
Quote Symbol: |
4205 |
|
Exchange: |
Tokyo Stock Exchange |
|
Currency: |
JPY |
|
Stock Price: |
767.0 |
|
Stock Price Date: |
01-11-2013 |
|
52 Week Price Change %: |
21.8 |
|
Market Value (mil): |
185,672,000.0 |
|
SEDOL: |
6644015 |
|
ISIN: |
JP3725400000 |
|
Equity and Dept Distribution: |
|
|
All FY'99-02 WAS were estimated. FY'05-'07 Q1&Q3, WAS
and O/S were estimated. FY'08 3Q WAS & DWAS & O/S were estimated.
FY'08 reported EPS=Y38.24, DEPS=Y38.22. FY'08 Q1 WAS=O/S. FY'09 3Q DWAS
estimated. FY'11 Q1&Q2 DWAS were estimated in tanshin. |
|
|
Company |
Percentage
Owned |
Country |
|
Zeon Medical
Inc |
100% |
JAPAN |
|
Zeon Polymix
Inc |
100% |
JAPAN |
|
Rimtec
Corporation |
100% |
JAPAN |
|
Zeon
Chemicals LP |
100% |
USA |
|
Zeon do
Brasil Ltda |
100% |
BRAZIL |
|
Zeon Europe
GmbH |
|
GERMANY |
|
Zeon Kasei Co
Ltd |
100% |
JAPAN |
|
Tokyo Zairyou
Co Ltd |
58% |
JAPAN |
|
Zeon North Co
Ltd |
100% |
JAPAN |
|
Zeon
Yamaguchi Co Ltd |
100% |
JAPAN |
|
Major Shareholders |
|
Yokohama Rubber Co Ltd (6.9%) |
|
Auditor: |
Ernst & Young ShinNihon LLC |
|
Auditor: |
Ernst & Young ShinNihon LLC |
The Strategic Initiatives report is created using technology to extract meaningful insights from analyst reports about a company's strategic projects and investments
For the fiscal year ended 2011, the company reported revenue of YEN48,494m for the other segment, reflecting a increase of 16.42% over revenue in 2010. The segment accounted for 17.85% of the company’s total revenue in 2011. Its basic strategy is to give continued focus on creating new businesses (Specialty Materials Business), taking full advantage of steady revenue generated by existing businesses (Elastomer Business). The research and development activities of the company are coordinated through its R&D Center located in Kawasaki, Kanagawa. The company's R&D Center consists of labs for each business division that daily respond to customer needs, an Incubation Center that quickly provides new products, and a new business development department that explores next-generation products.
Corporate
Structure News
ZEON
CORPORATION
Total Corporate Family Members: 11
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Tokyo |
Japan |
Chemicals - Plastics and Rubber |
3,328.7 |
2,857 |
|
|
Subsidiary |
Louisville, KY |
United States |
Chemicals - Plastics and Rubber |
125.0 |
175 |
|
|
Subsidiary |
Muang, Rayong |
Thailand |
Oil and Gas Operations |
|
67 |
|
|
Subsidiary |
Düsseldorf, Nordrhein-Westfalen |
Germany |
Chemical Manufacturing |
173.4 |
25 |
|
|
Subsidiary |
Maisons Laffitte |
France |
Chemical Manufacturing |
16.2 |
|
|
|
Subsidiary |
Bondues |
France |
Biotechnology and Drugs |
26.1 |
14 |
|
|
Subsidiary |
Singapore |
Singapore |
Chemical Manufacturing |
145.1 |
10 |
|
|
Subsidiary |
Sao Paulo |
Brazil |
Chemicals - Plastics and Rubber |
|
3 |
|
|
Subsidiary |
Chiyoda-Ku, Tokyo |
Japan |
Chemical Manufacturing |
113.8 |
|
|
|
Subsidiary |
Takaoka, Toyama |
Japan |
Construction Services |
67.4 |
|
|
|
Subsidiary |
Minato-Ku, Tokyo |
Japan |
Medical Equipment and Supplies |
43.4 |
|
Competitors
Report
|
CompanyName |
Location |
Employees |
Ownership |
|
Asahi Kasei Corporation |
Tokyo, Japan |
25,085 |
Public |
|
JSR CORPORATION |
Tokyo, Japan |
5,403 |
Public |
|
Kraton Performance Polymers Inc |
Houston, Texas, United States |
916 |
Public |
|
Kuraray Co Ltd |
Tokyo, Japan |
6,776 |
Public |
|
Lee Chang Yung Chemical Industry Corp |
Taipei, Taiwan |
1,745 |
Public |
|
LG Chem Ltd |
Seoul, Korea, Republic of |
11,675 |
Public |
Board of Directors
|
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||||
|
Managing Executive Officer, Director |
Director/Board Member |
||||
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|
President, Representative Director |
Director/Board Member |
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Senior Managing Executive Officer, Chief Director of Base Business,
Director |
Director/Board Member |
|
|||
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||||||
|
Executive Officer, Director of Latex Business, Director |
Director/Board Member |
|
|||
|
||||||
|
Executive Officer, Director |
Director/Board Member |
|
|||
|
||||||
|
Executive Officer, Senior Manager of Human Resources, Director of Business
Planning, Senior Manager of Business Planning, Director |
Director/Board Member |
|
|||
|
||||||
|
Independent Director |
Director/Board Member |
|
|||
|
||||||
|
Managing Executive Officer, Senior Manager of Business Administration,
Director |
Director/Board Member |
|
|||
|
||||||
|
Senior Managing Executive Officer, Chief Director of High Functional
Business, Director of High Functional Resin and Member Business, Director |
Director/Board Member |
|
|||
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||||||
|
Managing Executive Officer, Director |
Director/Board Member |
|
|||
|
||||||
|
Senior Managing Executive Officer, Director |
Director/Board Member |
|
|||
|
||||||
Executives
|
|
|
||||
|
President, Representative Director |
President |
||||
|
||||||
|
Managing Director-Production |
Managing Director |
|
|||
|
Senior Managing Director-Corporate Social Responsibility |
Managing Director |
|
|||
|
Co-Auditor |
Finance Executive |
|
|||
|
Co-Auditor |
Finance Executive |
|
|||
|
Co-Auditor |
Finance Executive |
|
|||
|
Co-Auditor |
Finance Executive |
|
|||
|
Auditor |
Accounting Executive |
|
|||
|
Standing Auditor |
Accounting Executive |
|
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|
Standing Auditor |
Accounting Executive |
|
|||
|
Standing Auditor |
Accounting Executive |
|
|||
|
Standing Auditor |
Accounting Executive |
|
|||
|
Manager-Human Resources |
Human Resources Executive |
|
|||
|
Executive Officer-Procurement & Logistics |
Logistics Executive |
|
|||
|
Executive Officer, Chief Director of Production, Manager of
General Production Center, Manager of Production Reformation Center |
Other |
|
|||
|
Executive Officer, Takaoka Plant Manager |
Other |
|
|||
|
Executive Officer, Chairman of Subsidiaries |
Other |
|
|||
|
Managing Executive Officer, Deputy Chief Director of Base
Business, Director of Chemical Product Business |
Other |
|
|||
|
Executive Officer, Director of Rubber Business, Director
of Rubber Business Administration |
Other |
|
|||
|
Managing Executive Officer, Manager of General Development
Center, Director of Administration in General Development Center |
Other |
|
|||
|
Executive Officer, Mizushima Plant Manager, Manager of
Manufacturing Training Center |
Other |
|
|||
|
Executive Officer |
Other |
|
|||
|
Executive Officer, Senior Manager of Global Business, Director
of Global Business Administration |
Other |
|
|||
|
Executive Officer, Senior Manager of CSR, Manager of CSR
Promotion Office |
Other |
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Zeon Corp Lowers Mid-year and Full-year Consolidated Outlook for FY 2013
Sep 26, 2012
Zeon Corp announced that it has lowered its mid-year consolidated outlook for
revenue from JPY 140,000 million to JPY 126,000 million, operating profit from
JPY 14,000 million to JPY 11,000 million, ordinary profit from JPY 12,600
million to JPY 10,000 million, net profit from JPY 7,500 million to JPY 5,000
million, and earnings per share from JPY 32.44 to JPY 21.63, for the fiscal
year ending March 31, 2013. The Company also has lowered its full-year
consolidated outlook for revenue from JPY 290,000 million to JPY 260,000
million, operating profit from JPY 32,000 million to JPY 22,000 million,
ordinary profit from JPY 30,000 million to JPY 21,000 million, net profit from JPY
18,000 million to JPY 12,000 million, and earnings per share from JPY 77.87 to
JPY 51.91, for the fiscal year ending March 31, 2013. According to I/B/E/S
Estimates, analysts on average are expecting the Company to report its
full-year consolidated outlook for revenue of JPY 277,030 million, operating
profit of JPY 30,630 million and net profit of JPY 17,330 million, for same
fiscal year. The Company lowered its mid-year and full-year consolidated
outlook mainly due to the appreciation of yen and the sluggish overseas market.
R&I Affirms Zeon Corporation's Rating at "A-"; Changes Rating Outlook to Positive
Jul 05, 2012
Rating and Investment Information, Inc. (R&I) announced that it has
affirmed the rating on Zeon Corporation at "A-". The rating outlook has
been changed from stable to positive.
Zeon Corporation Announces Year-end Dividend Payment for FY Ended March 2012
May 23, 2012
Zeon Corporation announced that it will issue dividend of JPY 6.00 per share,
or JPY 1,387 million in total, effective June 29, 2012, in line with a forecast
of JPY 6.00 per share announced on May 10, 2012, from retained earnings to
shareholders as of March 31, 2012.
Zeon Corporation Raises Year-end Dividend Outlook for FY Ended March 2012
May 10, 2012
Zeon Corporation announced that it has raised its year-end dividend outlook
from JPY 5.00 per share, to JPY 6.00 per share, for the fiscal year ended March
2012.
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 |
Ernst & Young
ShinNihon LLC |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
3,328.7 |
3,155.3 |
2,430.3 |
2,675.6 |
2,650.2 |
|
Revenue |
3,328.7 |
3,155.3 |
2,430.3 |
2,675.6 |
2,650.2 |
|
Total Revenue |
3,328.7 |
3,155.3 |
2,430.3 |
2,675.6 |
2,650.2 |
|
|
|
|
|
|
|
|
Cost of Revenue |
2,359.3 |
2,248.6 |
1,891.8 |
2,195.2 |
2,002.0 |
|
Cost of Revenue, Total |
2,359.3 |
2,248.6 |
1,891.8 |
2,195.2 |
2,002.0 |
|
Gross Profit |
969.4 |
906.7 |
538.5 |
480.5 |
648.2 |
|
|
|
|
|
|
|
|
Selling/General/Administrative
Expense |
294.8 |
275.1 |
242.8 |
240.7 |
232.5 |
|
Labor & Related Expense |
127.2 |
108.4 |
99.1 |
97.9 |
87.2 |
|
Total Selling/General/Administrative Expenses |
421.9 |
383.5 |
341.9 |
338.6 |
319.8 |
|
Research & Development |
140.7 |
111.2 |
96.3 |
112.7 |
107.4 |
|
Depreciation |
10.4 |
5.1 |
3.0 |
0.0 |
- |
|
Amortization of Acquisition Costs |
0.0 |
-0.4 |
-0.9 |
-1.3 |
-1.0 |
|
Depreciation/Amortization |
10.4 |
4.6 |
2.0 |
-1.3 |
-1.0 |
|
Litigation |
- |
- |
- |
0.0 |
9.8 |
|
Impairment-Assets Held for Use |
3.1 |
3.7 |
5.2 |
15.4 |
0.0 |
|
Impairment-Assets Held for Sale |
9.3 |
16.9 |
2.7 |
2.9 |
0.0 |
|
Other Unusual Expense (Income) |
-9.8 |
8.1 |
7.8 |
0.7 |
3.2 |
|
Unusual Expense (Income) |
2.6 |
28.7 |
15.7 |
19.0 |
13.0 |
|
Total Operating Expense |
2,934.9 |
2,776.8 |
2,347.8 |
2,664.1 |
2,441.1 |
|
|
|
|
|
|
|
|
Operating Income |
393.8 |
378.5 |
82.5 |
11.5 |
209.1 |
|
|
|
|
|
|
|
|
Interest
Expense - Non-Operating |
-13.2 |
-13.4 |
-13.8 |
-16.3 |
-12.8 |
|
Interest Expense, Net
Non-Operating |
-13.2 |
-13.4 |
-13.8 |
-16.3 |
-12.8 |
|
Interest
Income - Non-Operating |
1.4 |
1.0 |
1.1 |
2.0 |
2.4 |
|
Investment
Income - Non-Operating |
7.6 |
-8.8 |
10.1 |
-7.9 |
-6.0 |
|
Interest/Investment Income -
Non-Operating |
9.0 |
-7.9 |
11.2 |
-6.0 |
-3.6 |
|
Interest Income (Expense) - Net Non-Operating Total |
-4.2 |
-21.3 |
-2.6 |
-22.3 |
-16.5 |
|
Gain (Loss) on Sale of Assets |
6.5 |
-6.9 |
-0.9 |
-4.1 |
-39.9 |
|
Other Non-Operating Income
(Expense) |
1.6 |
2.6 |
6.6 |
27.3 |
6.2 |
|
Other, Net |
1.6 |
2.6 |
6.6 |
27.3 |
6.2 |
|
Income Before Tax |
397.7 |
353.0 |
85.6 |
12.4 |
159.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
146.8 |
132.1 |
29.4 |
-13.4 |
75.5 |
|
Income After Tax |
250.9 |
220.9 |
56.2 |
25.8 |
83.5 |
|
|
|
|
|
|
|
|
Minority Interest |
-8.7 |
-7.2 |
-2.2 |
-1.2 |
-4.0 |
|
Net Income Before Extraord Items |
242.2 |
213.6 |
54.0 |
24.6 |
79.5 |
|
Net Income |
242.2 |
213.6 |
54.0 |
24.6 |
79.5 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
- |
0.0 |
0.0 |
0.0 |
- |
|
Total Adjustments to Net Income |
- |
0.0 |
0.0 |
0.0 |
- |
|
Income Available to Common Excl Extraord Items |
242.2 |
213.6 |
54.0 |
24.7 |
79.5 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
242.2 |
213.6 |
54.0 |
24.7 |
79.5 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
231.2 |
232.4 |
236.1 |
236.1 |
237.8 |
|
Basic EPS Excl Extraord Items |
1.05 |
0.92 |
0.23 |
0.10 |
0.33 |
|
Basic/Primary EPS Incl Extraord Items |
1.05 |
0.92 |
0.23 |
0.10 |
0.33 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
242.2 |
213.6 |
54.0 |
24.7 |
79.5 |
|
Diluted Weighted Average Shares |
231.5 |
232.7 |
236.4 |
236.3 |
237.9 |
|
Diluted EPS Excl Extraord Items |
1.05 |
0.92 |
0.23 |
0.10 |
0.33 |
|
Diluted EPS Incl Extraord Items |
1.05 |
0.92 |
0.23 |
0.10 |
0.33 |
|
Dividends per Share - Common Stock Primary Issue |
0.14 |
0.12 |
0.06 |
0.09 |
0.10 |
|
Gross Dividends - Common Stock |
32.2 |
27.0 |
15.2 |
21.1 |
24.9 |
|
Interest Expense, Supplemental |
13.2 |
13.4 |
13.8 |
16.3 |
12.8 |
|
Depreciation, Supplemental |
251.8 |
246.5 |
239.5 |
224.9 |
170.6 |
|
Total Special Items |
-3.9 |
35.2 |
15.6 |
21.8 |
51.9 |
|
Normalized Income Before Tax |
393.8 |
388.1 |
101.2 |
34.2 |
210.9 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-1.4 |
13.3 |
5.7 |
8.1 |
25.1 |
|
Inc Tax Ex Impact of Sp Items |
145.3 |
145.4 |
35.1 |
-5.3 |
100.6 |
|
Normalized Income After Tax |
248.5 |
242.7 |
66.1 |
39.5 |
110.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
239.8 |
235.4 |
64.0 |
38.4 |
106.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.04 |
1.01 |
0.27 |
0.16 |
0.45 |
|
Diluted Normalized EPS |
1.04 |
1.01 |
0.27 |
0.16 |
0.45 |
|
Amort of Acquisition Costs, Supplemental |
0.0 |
-0.4 |
-0.9 |
-1.3 |
-1.0 |
|
Research & Development Exp, Supplemental |
140.7 |
111.2 |
96.3 |
112.7 |
107.4 |
|
Reported Operating Profit |
406.8 |
411.9 |
100.3 |
29.2 |
221.1 |
|
Reported Ordinary Profit |
398.8 |
392.4 |
101.7 |
38.3 |
180.6 |
|
Normalized EBIT |
396.4 |
407.3 |
98.2 |
30.5 |
222.1 |
|
Normalized EBITDA |
648.2 |
653.3 |
336.7 |
254.1 |
391.6 |
|
Current Tax - Total |
128.6 |
- |
- |
- |
- |
|
Current Tax - Total |
128.6 |
- |
- |
- |
- |
|
Deferred Tax - Total |
18.2 |
- |
- |
- |
- |
|
Deferred Tax - Total |
18.2 |
- |
- |
- |
- |
|
Income Tax - Total |
146.8 |
- |
- |
- |
- |
|
Interest Cost - Domestic |
8.7 |
8.9 |
8.7 |
9.0 |
8.1 |
|
Service Cost - Domestic |
9.7 |
7.7 |
8.4 |
8.4 |
7.4 |
|
Prior Service Cost - Domestic |
-0.4 |
-0.4 |
-0.3 |
-0.2 |
-0.2 |
|
Expected Return on Assets - Domestic |
-6.1 |
-5.4 |
-4.4 |
-6.1 |
-6.4 |
|
Actuarial Gains and Losses - Domestic |
12.6 |
2.4 |
8.9 |
10.5 |
3.2 |
|
Domestic Pension Plan Expense |
24.4 |
13.2 |
21.3 |
21.6 |
12.1 |
|
Defined Contribution Expense - Domestic |
5.8 |
5.0 |
3.9 |
4.2 |
3.8 |
|
Total Pension Expense |
30.2 |
18.2 |
25.3 |
25.8 |
15.9 |
|
Discount Rate - Domestic |
1.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expected Rate of Return - Domestic |
1.00% |
1.00% |
0.00% |
2.50% |
2.50% |
|
Total Plan Interest Cost |
8.7 |
8.9 |
8.7 |
9.0 |
8.1 |
|
Total Plan Service Cost |
9.7 |
7.7 |
8.4 |
8.4 |
7.4 |
|
Total Plan Expected Return |
-6.1 |
-5.4 |
-4.4 |
-6.1 |
-6.4 |
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 |
Ernst & Young
ShinNihon LLC |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
161.5 |
182.5 |
79.0 |
53.3 |
65.4 |
|
Cash and Short Term Investments |
161.5 |
182.5 |
79.0 |
53.3 |
65.4 |
|
Accounts
Receivable - Trade, Gross |
814.7 |
790.1 |
658.6 |
467.1 |
771.7 |
|
Provision
for Doubtful Accounts |
-0.5 |
-0.7 |
-0.8 |
-0.8 |
-0.9 |
|
Trade Accounts Receivable - Net |
814.1 |
789.4 |
657.8 |
466.3 |
770.9 |
|
Other Receivables |
364.8 |
299.1 |
206.8 |
161.5 |
290.1 |
|
Total Receivables, Net |
1,178.9 |
1,088.4 |
864.6 |
627.8 |
1,061.0 |
|
Inventories - Finished Goods |
485.7 |
413.0 |
307.8 |
443.7 |
429.1 |
|
Inventories - Work In Progress |
44.8 |
37.4 |
24.9 |
33.3 |
45.8 |
|
Inventories - Raw Materials |
110.2 |
103.8 |
77.6 |
86.1 |
87.9 |
|
Total Inventory |
640.8 |
554.2 |
410.3 |
563.2 |
562.8 |
|
Deferred Income Tax - Current
Asset |
43.6 |
51.2 |
37.4 |
34.9 |
31.2 |
|
Other Current Assets |
29.6 |
14.9 |
17.5 |
46.6 |
19.5 |
|
Other Current Assets, Total |
73.2 |
66.0 |
54.9 |
81.5 |
50.6 |
|
Total Current Assets |
2,054.3 |
1,891.2 |
1,408.7 |
1,325.8 |
1,739.8 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
1,186.8 |
1,157.6 |
1,159.8 |
1,202.7 |
1,168.1 |
|
Goodwill, Net |
- |
6.8 |
9.0 |
14.3 |
23.2 |
|
Intangibles, Net |
48.8 |
41.4 |
35.2 |
35.0 |
36.0 |
|
LT Investment - Affiliate
Companies |
29.2 |
16.2 |
- |
- |
- |
|
LT Investments - Other |
405.0 |
328.4 |
333.2 |
261.7 |
360.5 |
|
Long Term Investments |
434.2 |
344.6 |
333.2 |
261.7 |
360.5 |
|
Deferred Charges |
- |
- |
- |
0.0 |
0.0 |
|
Deferred Income Tax - Long Term
Asset |
11.1 |
26.0 |
15.9 |
57.9 |
4.7 |
|
Other Long Term Assets |
51.0 |
38.7 |
46.0 |
59.2 |
40.6 |
|
Other Long Term Assets, Total |
62.1 |
64.6 |
61.9 |
117.1 |
45.4 |
|
Total Assets |
3,786.2 |
3,506.2 |
3,007.8 |
2,956.6 |
3,373.0 |
|
|
|
|
|
|
|
|
Accounts Payable |
868.5 |
735.1 |
517.4 |
364.2 |
800.8 |
|
Accrued Expenses |
21.4 |
21.2 |
11.0 |
12.7 |
17.8 |
|
Notes Payable/Short Term Debt |
169.2 |
173.7 |
283.9 |
589.2 |
455.5 |
|
Current Portion - Long Term Debt/Capital Leases |
151.1 |
43.4 |
135.4 |
111.3 |
- |
|
Income Taxes Payable |
43.9 |
132.6 |
7.8 |
4.3 |
30.4 |
|
Other Current Liabilities |
206.3 |
162.4 |
137.5 |
169.9 |
268.3 |
|
Other Current liabilities, Total |
250.2 |
295.0 |
145.2 |
174.2 |
298.7 |
|
Total Current Liabilities |
1,460.4 |
1,268.5 |
1,093.0 |
1,251.5 |
1,572.7 |
|
|
|
|
|
|
|
|
Long Term Debt |
500.1 |
637.9 |
605.4 |
548.3 |
524.2 |
|
Capital Lease Obligations |
- |
- |
1.5 |
- |
- |
|
Total Long Term Debt |
500.1 |
637.9 |
606.9 |
548.3 |
524.2 |
|
Total Debt |
820.4 |
855.0 |
1,026.3 |
1,248.8 |
979.7 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
12.2 |
6.6 |
6.7 |
3.6 |
13.9 |
|
Deferred Income Tax |
12.2 |
6.6 |
6.7 |
3.6 |
13.9 |
|
Minority Interest |
34.0 |
44.1 |
34.7 |
32.8 |
36.8 |
|
Reserves |
9.5 |
16.9 |
15.7 |
11.7 |
11.4 |
|
Pension Benefits - Underfunded |
127.7 |
114.4 |
114.3 |
120.1 |
117.3 |
|
Other Long Term Liabilities |
31.8 |
29.0 |
14.5 |
16.4 |
19.4 |
|
Other Liabilities, Total |
169.0 |
160.2 |
144.6 |
148.2 |
148.2 |
|
Total Liabilities |
2,175.7 |
2,117.4 |
1,885.9 |
1,984.5 |
2,295.8 |
|
|
|
|
|
|
|
|
Common Stock |
293.9 |
292.1 |
259.1 |
245.1 |
243.2 |
|
Common Stock |
293.9 |
292.1 |
259.1 |
245.1 |
243.2 |
|
Additional Paid-In Capital |
225.8 |
224.5 |
198.6 |
188.1 |
186.2 |
|
Retained Earnings (Accumulated Deficit) |
1,260.7 |
1,053.1 |
759.4 |
674.5 |
673.1 |
|
Treasury Stock - Common |
-98.4 |
-98.3 |
-57.5 |
-55.0 |
-54.6 |
|
Unrealized Gain (Loss) |
63.3 |
28.3 |
37.3 |
-0.1 |
50.8 |
|
Translation Adjustment |
-110.0 |
-95.3 |
-60.3 |
-61.6 |
-5.6 |
|
Minimum Pension Liability
Adjustment |
-24.7 |
-15.5 |
-14.7 |
-18.9 |
-16.0 |
|
Other Equity, Total |
-134.7 |
-110.8 |
-75.0 |
-80.6 |
-21.6 |
|
Total Equity |
1,610.5 |
1,388.9 |
1,121.9 |
972.1 |
1,077.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
3,786.2 |
3,506.2 |
3,007.8 |
2,956.6 |
3,373.0 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock
Primary Issue |
231.2 |
231.1 |
236.1 |
236.1 |
236.1 |
|
Total Common Shares Outstanding |
231.2 |
231.1 |
236.1 |
236.1 |
236.1 |
|
Treasury Shares - Common Stock Primary Issue |
10.9 |
11.0 |
6.0 |
6.0 |
6.0 |
|
Employees |
2,857 |
2,836 |
2,815 |
2,882 |
3,166 |
|
Number of Common Shareholders |
12,221 |
12,619 |
14,341 |
16,689 |
14,092 |
|
Total Long Term Debt, Supplemental |
651.2 |
681.3 |
740.3 |
659.7 |
576.4 |
|
Long Term Debt Maturing within 1 Year |
151.1 |
43.4 |
134.8 |
111.3 |
52.2 |
|
Long Term Debt Maturing in Year 2 |
169.9 |
149.8 |
38.5 |
127.6 |
93.8 |
|
Long Term Debt Maturing in Year 3 |
200.3 |
168.3 |
134.0 |
36.4 |
100.5 |
|
Long Term Debt Maturing in Year 4 |
18.2 |
199.1 |
149.3 |
126.7 |
7.0 |
|
Long Term Debt Maturing in Year 5 |
111.7 |
18.1 |
176.6 |
141.2 |
101.9 |
|
Long Term Debt Maturing in 2-3 Years |
370.2 |
318.1 |
172.5 |
164.0 |
194.3 |
|
Long Term Debt Maturing in 4-5 Years |
129.9 |
217.2 |
325.9 |
267.9 |
108.9 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
102.6 |
107.0 |
116.4 |
221.0 |
|
Total Capital Leases, Supplemental |
2.9 |
2.8 |
2.1 |
0.9 |
- |
|
Capital Lease Payments Due in Year 1 |
0.8 |
0.7 |
0.6 |
0.3 |
- |
|
Capital Lease Payments Due in Year 2 |
0.7 |
0.6 |
0.5 |
0.3 |
- |
|
Capital Lease Payments Due in Year 3 |
0.6 |
0.5 |
0.4 |
0.2 |
- |
|
Capital Lease Payments Due in Year 4 |
0.4 |
0.4 |
0.3 |
0.1 |
- |
|
Capital Lease Payments Due in Year 5 |
0.3 |
0.3 |
0.2 |
0.0 |
- |
|
Capital Lease Payments Due in 2-3 Years |
1.2 |
1.1 |
0.9 |
0.5 |
- |
|
Capital Lease Payments Due in 4-5 Years |
0.7 |
0.7 |
0.4 |
0.1 |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.1 |
0.3 |
0.2 |
0.0 |
- |
|
Pension Obligation - Domestic |
239.2 |
223.5 |
214.7 |
202.8 |
243.9 |
|
Plan Assets - Domestic |
84.2 |
88.9 |
79.8 |
62.1 |
106.7 |
|
Funded Status - Domestic |
-155.1 |
-134.7 |
-134.9 |
-140.8 |
-137.2 |
|
Total Funded Status |
-155.1 |
-134.7 |
-134.9 |
-140.8 |
-137.2 |
|
Discount Rate - Domestic |
1.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expected Rate of Return - Domestic |
1.00% |
1.00% |
0.00% |
2.50% |
2.50% |
|
Prepaid Benefits - Domestic |
0.5 |
0.6 |
1.6 |
2.7 |
3.9 |
|
Accrued Liabilities - Domestic |
-127.7 |
-114.4 |
-114.3 |
-120.1 |
-117.3 |
|
Other Assets, Net - Domestic |
-27.8 |
-20.9 |
-22.2 |
-23.4 |
-23.8 |
|
Net Assets Recognized on Balance Sheet |
-155.1 |
-134.7 |
-134.9 |
-140.8 |
-137.2 |
|
Total Plan Obligations |
239.2 |
223.5 |
214.7 |
202.8 |
243.9 |
|
Total Plan Assets |
84.2 |
88.9 |
79.8 |
62.1 |
106.7 |
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 |
Ernst & Young
ShinNihon LLC |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
397.7 |
352.9 |
85.5 |
12.4 |
159.0 |
|
Depreciation |
251.8 |
246.5 |
239.5 |
224.9 |
170.6 |
|
Depreciation/Depletion |
251.8 |
246.5 |
239.5 |
224.9 |
170.6 |
|
Unusual Items |
2.3 |
35.6 |
0.0 |
23.0 |
20.0 |
|
Other Non-Cash Items |
0.3 |
5.3 |
0.0 |
-17.0 |
4.2 |
|
Non-Cash Items |
2.6 |
40.9 |
0.0 |
6.1 |
24.2 |
|
Accounts Receivable |
-29.1 |
-67.6 |
-162.1 |
265.7 |
-136.2 |
|
Inventories |
-94.9 |
-99.6 |
195.0 |
-29.2 |
-35.8 |
|
Accounts Payable |
143.8 |
168.0 |
127.7 |
-397.8 |
-22.2 |
|
Accrued Expenses |
0.2 |
8.8 |
0.0 |
- |
- |
|
Other Operating Cash Flow |
-266.8 |
-88.7 |
-23.5 |
24.1 |
-84.7 |
|
Changes in Working Capital |
-246.8 |
-79.1 |
137.1 |
-137.3 |
-279.0 |
|
Cash from Operating Activities |
405.4 |
561.3 |
462.2 |
106.1 |
74.8 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-258.8 |
-101.1 |
-129.0 |
-344.0 |
-264.2 |
|
Purchase/Acquisition of
Intangibles |
-12.5 |
-11.1 |
-5.7 |
-12.1 |
-12.0 |
|
Capital Expenditures |
-271.3 |
-112.2 |
-134.8 |
-356.1 |
-276.2 |
|
Sale of Business |
7.0 |
0.0 |
- |
- |
- |
|
Sale/Maturity of Investment |
- |
- |
0.0 |
19.9 |
6.2 |
|
Purchase of Investments |
-57.3 |
-7.2 |
0.0 |
-9.7 |
-31.5 |
|
Other Investing Cash Flow |
-28.4 |
7.0 |
1.9 |
-4.0 |
4.0 |
|
Other Investing Cash Flow Items, Total |
-78.8 |
-0.2 |
1.9 |
6.2 |
-21.4 |
|
Cash from Investing Activities |
-350.1 |
-112.4 |
-132.8 |
-349.9 |
-297.6 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-2.3 |
-1.4 |
-4.5 |
-0.9 |
-1.0 |
|
Financing Cash Flow Items |
-2.3 |
-1.4 |
-4.5 |
-0.9 |
-1.0 |
|
Cash Dividends Paid - Common |
-32.1 |
-27.3 |
-7.6 |
-28.1 |
-24.8 |
|
Total Cash Dividends Paid |
-32.1 |
-27.3 |
-7.6 |
-28.1 |
-24.8 |
|
Repurchase/Retirement
of Common |
-0.1 |
-32.4 |
0.0 |
0.0 |
-9.0 |
|
Common Stock, Net |
-0.1 |
-32.4 |
0.0 |
0.0 |
-9.0 |
|
Issuance (Retirement) of Stock, Net |
-0.1 |
-32.4 |
0.0 |
0.0 |
-9.0 |
|
Short Term Debt, Net |
-5.6 |
-139.3 |
-341.3 |
188.8 |
116.3 |
|
Long Term
Debt Issued |
10.6 |
0.0 |
161.4 |
147.3 |
150.3 |
|
Long Term
Debt Reduction |
-45.8 |
-147.0 |
-118.7 |
-62.9 |
-11.1 |
|
Long Term Debt, Net |
-35.2 |
-147.0 |
42.7 |
84.3 |
139.2 |
|
Issuance (Retirement) of Debt, Net |
-40.9 |
-286.3 |
-298.7 |
273.1 |
255.5 |
|
Cash from Financing Activities |
-75.5 |
-347.4 |
-310.8 |
244.0 |
220.6 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-3.6 |
-7.7 |
0.5 |
-11.4 |
-0.9 |
|
Net Change in Cash |
-23.8 |
93.8 |
19.1 |
-11.1 |
-3.1 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
190.9 |
82.1 |
55.3 |
61.0 |
56.7 |
|
Net Cash - Ending Balance |
167.1 |
175.9 |
74.4 |
49.8 |
53.6 |
|
Cash Interest Paid |
13.2 |
13.6 |
14.0 |
16.5 |
13.0 |
|
Cash Taxes Paid |
226.4 |
18.4 |
-27.8 |
73.2 |
85.3 |
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 |
Ernst & Young
ShinNihon LLC |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
3,328.7 |
3,155.3 |
2,430.3 |
2,675.6 |
2,650.2 |
|
Total Revenue |
3,328.7 |
3,155.3 |
2,430.3 |
2,675.6 |
2,650.2 |
|
|
|
|
|
|
|
|
Total cost of sales |
2,359.3 |
2,248.6 |
1,891.8 |
2,195.2 |
2,002.0 |
|
Other Selling/General/Admin.
Expense |
206.0 |
- |
- |
- |
- |
|
Freight costs |
88.8 |
92.8 |
72.3 |
70.2 |
74.1 |
|
Payroll |
104.8 |
91.2 |
84.2 |
82.1 |
75.3 |
|
Research & Development expense |
140.7 |
111.2 |
96.3 |
112.7 |
107.4 |
|
Allowance for bonus |
12.0 |
11.1 |
5.3 |
6.3 |
5.3 |
|
Prov. for retire. benefits reserve |
10.4 |
6.1 |
9.7 |
9.5 |
6.6 |
|
Other SGA |
- |
182.2 |
170.5 |
170.5 |
158.5 |
|
Gain On Negative Goodwill |
-10.7 |
- |
- |
- |
- |
|
SP Gain on negative goodwill |
- |
0.0 |
- |
- |
- |
|
SP Rev-Doubt.Acct.Allow |
0.0 |
-0.4 |
-0.2 |
- |
0.0 |
|
Gain-Writeoff Debt Recovered |
- |
- |
- |
- |
0.0 |
|
SP Other Special Gains |
-0.2 |
0.0 |
-0.2 |
-0.1 |
-0.3 |
|
SP Impairment Loss |
3.1 |
3.7 |
5.2 |
15.4 |
0.0 |
|
SP Val.Loss-Invest.Sec |
9.3 |
16.9 |
2.7 |
2.9 |
0.0 |
|
Provision for reserve for
environmental |
- |
0.0 |
3.5 |
0.0 |
- |
|
Environmental expenses |
- |
0.0 |
2.2 |
0.0 |
- |
|
SP L on Plant Closing |
- |
0.0 |
1.9 |
0.0 |
- |
|
Loss on adjustment for changes of
accoun |
0.0 |
7.6 |
0.0 |
- |
- |
|
SP Lawsuit Related Expense |
- |
- |
- |
0.0 |
9.8 |
|
SP Settlement |
- |
- |
- |
- |
0.0 |
|
SP Other Special Losses |
1.2 |
0.9 |
0.5 |
0.9 |
3.5 |
|
NOP Amort-Negative Goodwill |
0.0 |
-0.4 |
-0.9 |
-1.3 |
-1.0 |
|
NOP Depre. of inactive non-current
ass |
10.4 |
5.1 |
3.0 |
0.0 |
- |
|
Total Operating Expense |
2,934.9 |
2,776.8 |
2,347.8 |
2,664.1 |
2,441.1 |
|
|
|
|
|
|
|
|
Gain On Transfer Of Business |
5.3 |
- |
- |
- |
- |
|
SP Sale Gain-Fixed Asst |
- |
0.4 |
0.0 |
0.7 |
1.6 |
|
SP Sale Gain-Invest.Sec |
- |
0.0 |
2.4 |
0.0 |
- |
|
SP Gain on transfer of business |
- |
0.0 |
- |
- |
- |
|
SP Disposal-Fixed Asset |
-3.7 |
-11.1 |
-2.8 |
-7.7 |
-10.1 |
|
Loss Gain Sale Invest. Secs. |
- |
- |
- |
0.0 |
- |
|
NOP Interest Income |
1.4 |
1.0 |
1.1 |
2.0 |
2.4 |
|
NOP Dividend Income |
11.0 |
7.3 |
7.1 |
8.9 |
9.9 |
|
Rounding adjustment Income
Statement |
0.0 |
- |
- |
- |
- |
|
NOP Gain-Equity Method |
- |
0.0 |
0.1 |
0.3 |
0.3 |
|
NOP Exchange Gain |
- |
0.0 |
0.5 |
0.0 |
0.0 |
|
NOP Rent Income |
- |
0.5 |
0.8 |
0.8 |
0.6 |
|
NOP Income-Subdivision |
4.9 |
3.8 |
1.9 |
2.8 |
1.9 |
|
NOP Subsidiary Income |
- |
2.5 |
5.2 |
25.3 |
4.7 |
|
NOP Other Non-op. Income |
5.4 |
2.5 |
3.8 |
4.8 |
5.4 |
|
NOP Interest Expense |
-13.2 |
-13.4 |
-13.8 |
-16.3 |
-12.8 |
|
NOP Exchange Loss |
-3.4 |
-16.2 |
0.0 |
-17.2 |
-16.2 |
|
NOP Disposal-Inventory |
- |
- |
- |
0.0 |
-33.2 |
|
NOP Other Non-op.Expense |
-3.8 |
-3.0 |
-3.3 |
-3.5 |
-4.4 |
|
Net Income Before Taxes |
397.7 |
353.0 |
85.6 |
12.4 |
159.0 |
|
|
|
|
|
|
|
|
Total income taxes |
146.8 |
132.1 |
29.4 |
-13.4 |
75.5 |
|
Net Income After Taxes |
250.9 |
220.9 |
56.2 |
25.8 |
83.5 |
|
|
|
|
|
|
|
|
Minority interests in income |
-8.7 |
-7.2 |
-2.2 |
-1.2 |
-4.0 |
|
Net Income Before Extra. Items |
242.2 |
213.6 |
54.0 |
24.6 |
79.5 |
|
Net Income |
242.2 |
213.6 |
54.0 |
24.6 |
79.5 |
|
|
|
|
|
|
|
|
Earning Adj. |
- |
0.0 |
0.0 |
0.0 |
- |
|
Income Available to Com Excl ExtraOrd |
242.2 |
213.6 |
54.0 |
24.7 |
79.5 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
242.2 |
213.6 |
54.0 |
24.7 |
79.5 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
231.2 |
232.4 |
236.1 |
236.1 |
237.8 |
|
Basic EPS Excluding ExtraOrdinary Items |
1.05 |
0.92 |
0.23 |
0.10 |
0.33 |
|
Basic EPS Including ExtraOrdinary Item |
1.05 |
0.92 |
0.23 |
0.10 |
0.33 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
242.2 |
213.6 |
54.0 |
24.7 |
79.5 |
|
Diluted Weighted Average Shares |
231.5 |
232.7 |
236.4 |
236.3 |
237.9 |
|
Diluted EPS Excluding ExtraOrd Items |
1.05 |
0.92 |
0.23 |
0.10 |
0.33 |
|
Diluted EPS Including ExtraOrd Items |
1.05 |
0.92 |
0.23 |
0.10 |
0.33 |
|
DPS-Common Stock |
0.14 |
0.12 |
0.06 |
0.09 |
0.10 |
|
Gross Dividends - Common Stock |
32.2 |
27.0 |
15.2 |
21.1 |
24.9 |
|
Normalized Income Before Taxes |
393.8 |
388.1 |
101.2 |
34.2 |
210.9 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
145.3 |
145.4 |
35.1 |
-5.3 |
100.6 |
|
Normalized Income After Taxes |
248.5 |
242.7 |
66.1 |
39.5 |
110.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
239.8 |
235.4 |
64.0 |
38.4 |
106.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.04 |
1.01 |
0.27 |
0.16 |
0.45 |
|
Diluted Normalized EPS |
1.04 |
1.01 |
0.27 |
0.16 |
0.45 |
|
Research & Development Exp |
140.7 |
111.2 |
96.3 |
112.7 |
107.4 |
|
Interest Expense |
13.2 |
13.4 |
13.8 |
16.3 |
12.8 |
|
Amort. of negative goodwill |
0.0 |
-0.4 |
-0.9 |
-1.3 |
-1.0 |
|
Depreciation |
251.8 |
246.5 |
239.5 |
224.9 |
170.6 |
|
Income taxes-current |
128.6 |
- |
- |
- |
- |
|
Current Tax - Total |
128.6 |
- |
- |
- |
- |
|
Income taxes-deferred |
18.2 |
- |
- |
- |
- |
|
Deferred Tax - Total |
18.2 |
- |
- |
- |
- |
|
Income Tax - Total |
146.8 |
- |
- |
- |
- |
|
Reported Operating Profit |
406.8 |
411.9 |
100.3 |
29.2 |
221.1 |
|
Reported Ordinary Profit |
398.8 |
392.4 |
101.7 |
38.3 |
180.6 |
|
Service Cost |
9.7 |
7.7 |
8.4 |
8.4 |
7.4 |
|
Interest Cost |
8.7 |
8.9 |
8.7 |
9.0 |
8.1 |
|
Expected return on plan assets |
-6.1 |
-5.4 |
-4.4 |
-6.1 |
-6.4 |
|
Actuarial G&L |
12.6 |
2.4 |
8.9 |
10.5 |
3.2 |
|
Prior service cost |
-0.4 |
-0.4 |
-0.3 |
-0.2 |
-0.2 |
|
Domestic Pension Plan Expense |
24.4 |
13.2 |
21.3 |
21.6 |
12.1 |
|
Defined Contribution Expense |
5.8 |
5.0 |
3.9 |
4.2 |
3.8 |
|
Total Pension Expense |
30.2 |
18.2 |
25.3 |
25.8 |
15.9 |
|
Discount Rate(MIN)-Retirement Cost(Domes |
1.50% |
- |
- |
- |
- |
|
Discount Rate |
- |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expected return on assets(MIN)-Retiremen |
1.00% |
- |
- |
- |
- |
|
Expected Rate of Return |
- |
1.00% |
0.00% |
2.50% |
2.50% |
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 |
Ernst & Young
ShinNihon LLC |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash and Deposit |
161.5 |
182.5 |
79.0 |
53.3 |
65.4 |
|
Notes and accounts
receivable-trade |
814.7 |
790.1 |
658.6 |
467.1 |
771.7 |
|
Inventories - merch. & fini.
Goods |
485.7 |
413.0 |
307.8 |
443.7 |
429.1 |
|
Inventories - work-in-process |
44.8 |
37.4 |
24.9 |
33.3 |
45.8 |
|
Inventories - raw mate. &
supp. |
110.2 |
103.8 |
77.6 |
86.1 |
87.9 |
|
Accounts receivable-other |
364.8 |
299.1 |
206.8 |
161.5 |
290.1 |
|
Dfrd. Tax Asset |
43.6 |
51.2 |
37.4 |
34.9 |
31.2 |
|
Other Curr.Asset |
29.6 |
14.9 |
17.5 |
46.6 |
19.5 |
|
Doubtful Account |
-0.5 |
-0.7 |
-0.8 |
-0.8 |
-0.9 |
|
Total Current Assets |
2,054.3 |
1,891.2 |
1,408.7 |
1,325.8 |
1,739.8 |
|
|
|
|
|
|
|
|
Buildings and structures, net |
395.6 |
400.2 |
364.2 |
322.3 |
327.2 |
|
Machinery, equipment and
vehicles, net |
408.4 |
510.4 |
525.4 |
408.2 |
506.6 |
|
Land |
165.3 |
164.5 |
149.1 |
140.9 |
140.4 |
|
Construction |
175.7 |
57.8 |
94.9 |
298.7 |
156.3 |
|
Other, net |
41.6 |
24.7 |
26.2 |
32.7 |
37.6 |
|
Goodwill |
- |
6.8 |
9.0 |
14.3 |
23.2 |
|
Other |
48.8 |
- |
- |
- |
- |
|
Other Intangible |
- |
41.4 |
35.2 |
35.0 |
36.0 |
|
Other Invest. in securities |
405.0 |
- |
- |
- |
- |
|
Investment Sec |
- |
328.4 |
333.2 |
261.7 |
360.5 |
|
Invt Secs Noncons, Asc, Affd Cos |
11.7 |
- |
- |
- |
- |
|
Invts in Capital Noncons, Ascd,
Affd Cos |
17.4 |
- |
- |
- |
- |
|
Equity secs.-nonconsolidated
affil. |
- |
13.8 |
- |
- |
- |
|
Deferred tax assets |
11.1 |
26.0 |
15.9 |
57.9 |
4.7 |
|
Other Long Term Assets |
0.0 |
- |
- |
- |
- |
|
Other Other Long Term Assets |
55.6 |
- |
- |
- |
- |
|
Other Other Long Term Assets |
0.0 |
- |
- |
- |
- |
|
Other Assets |
- |
43.3 |
50.5 |
64.7 |
45.3 |
|
Other-secs.nonconsolid.affiliates |
- |
2.4 |
- |
- |
- |
|
Doubtful Account |
-4.6 |
-4.6 |
-4.5 |
-5.4 |
-4.6 |
|
Deferred Assets |
- |
- |
- |
0.0 |
0.0 |
|
Adjustment |
- |
- |
0.0 |
0.0 |
0.0 |
|
Total Assets |
3,786.2 |
3,506.2 |
3,007.8 |
2,956.6 |
3,373.0 |
|
|
|
|
|
|
|
|
Notes and accounts payable-trade |
868.5 |
735.1 |
517.4 |
364.2 |
800.8 |
|
Short-term loans payable |
169.2 |
173.7 |
219.7 |
285.5 |
254.7 |
|
LT borrowings (current) |
151.1 |
43.4 |
27.8 |
111.3 |
- |
|
Commercial Paper |
- |
0.0 |
64.2 |
303.6 |
200.8 |
|
Current portion of bonds |
- |
0.0 |
107.0 |
0.0 |
- |
|
Lease |
- |
- |
0.6 |
- |
- |
|
Tax Payable |
43.9 |
132.6 |
7.8 |
4.3 |
30.4 |
|
Accrued Bonus |
21.4 |
21.2 |
11.0 |
12.7 |
17.8 |
|
Other Allowances |
30.7 |
24.4 |
12.1 |
12.1 |
10.9 |
|
Other Curr. Liab |
175.6 |
138.0 |
125.4 |
157.7 |
257.4 |
|
Total Current Liabilities |
1,460.4 |
1,268.5 |
1,093.0 |
1,251.5 |
1,572.7 |
|
|
|
|
|
|
|
|
Corporate Bond |
121.4 |
120.7 |
107.0 |
202.5 |
200.9 |
|
Long-term loans payable |
378.7 |
517.2 |
498.4 |
345.9 |
323.3 |
|
Lease |
- |
- |
1.5 |
- |
- |
|
Total Long Term Debt |
500.1 |
637.9 |
606.9 |
548.3 |
524.2 |
|
|
|
|
|
|
|
|
Dfrd. Tax Liabs. |
12.2 |
6.6 |
6.7 |
3.6 |
13.9 |
|
Res-Accr.Retire |
127.7 |
114.4 |
114.3 |
120.1 |
117.3 |
|
Res.environmental cost |
8.7 |
9.6 |
9.0 |
5.2 |
5.2 |
|
Other Allowances |
0.8 |
7.3 |
6.7 |
6.4 |
6.2 |
|
Other Long Term Liabilities |
0.0 |
- |
- |
- |
- |
|
Negative Goodwill |
- |
- |
0.0 |
0.9 |
1.8 |
|
Other Liability |
31.8 |
29.0 |
14.5 |
15.6 |
17.7 |
|
Minor. Interest |
34.0 |
44.1 |
34.7 |
32.8 |
36.8 |
|
Total Liabilities |
2,175.7 |
2,117.4 |
1,885.9 |
1,984.5 |
2,295.8 |
|
|
|
|
|
|
|
|
Common Stock |
293.9 |
292.1 |
259.1 |
245.1 |
243.2 |
|
Total capital surpluses |
223.0 |
221.7 |
196.6 |
186.0 |
184.6 |
|
Total retained earnings |
1,260.7 |
1,053.1 |
759.4 |
674.5 |
673.1 |
|
Treasury Stock |
-98.4 |
-98.3 |
-57.5 |
-55.0 |
-54.6 |
|
Deferred Gains Or Losses On Hedges |
0.0 |
- |
- |
- |
- |
|
Valuation difference on
available-for-sa |
63.2 |
28.3 |
37.3 |
-0.1 |
50.8 |
|
Dfrd. Hedge G/L |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Minimum Pension Liab. Adj. |
- |
- |
- |
- |
0.0 |
|
Translate Adjust |
-110.0 |
-95.3 |
-60.3 |
-61.6 |
-5.6 |
|
Pension liabilities adjustments |
-24.7 |
-15.5 |
-14.7 |
-18.9 |
-16.0 |
|
New Stock Subscr. Right |
2.8 |
2.8 |
2.0 |
2.0 |
1.5 |
|
Total Equity |
1,610.5 |
1,388.9 |
1,121.9 |
972.1 |
1,077.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
3,786.2 |
3,506.2 |
3,007.8 |
2,956.6 |
3,373.0 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
231.2 |
231.1 |
236.1 |
236.1 |
236.1 |
|
Total Common Shares Outstanding |
231.2 |
231.1 |
236.1 |
236.1 |
236.1 |
|
T/S-Common Stock |
10.9 |
11.0 |
6.0 |
6.0 |
6.0 |
|
Full-Time Employees |
2,857 |
2,836 |
2,815 |
2,882 |
3,166 |
|
Total Number of Shareholders |
12,221 |
- |
- |
- |
- |
|
Number of Common Shareholders |
- |
12,619 |
14,341 |
16,689 |
14,092 |
|
Long Term Debt Maturing Within 1 Year |
151.1 |
43.4 |
134.8 |
111.3 |
52.2 |
|
Bond Redemp Amts over a Yr within 2 Yrs |
121.4 |
- |
- |
- |
- |
|
Lns Pble Maturing over a Yr within 2 Yrs |
48.6 |
- |
- |
- |
- |
|
Long Term Debt Maturing Within 2 Year |
- |
149.8 |
38.5 |
127.6 |
93.8 |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
200.3 |
- |
- |
- |
- |
|
Long Term Debt Maturing Within 3 Year |
- |
168.3 |
134.0 |
36.4 |
100.5 |
|
Lns Pble Maturg over 3 Yrs within 4 Yrs |
18.2 |
- |
- |
- |
- |
|
Long Term Debt Maturing Within 4 Year |
- |
199.1 |
149.3 |
126.7 |
7.0 |
|
Lns Pble Maturg over 4 Yrs within 5 Yrs |
111.7 |
- |
- |
- |
- |
|
Long Term Debt Maturing Within 5 Year |
- |
18.1 |
176.6 |
141.2 |
101.9 |
|
Long Term Debt Maturing in the rema Year |
- |
102.6 |
107.0 |
116.4 |
221.0 |
|
Total Long Term Debt, Supplemental |
651.2 |
681.3 |
740.3 |
659.7 |
576.4 |
|
Capital Lease Payments Due within 1 Year |
0.8 |
0.7 |
0.6 |
0.3 |
- |
|
Cap Lease Maturg over a Yr within 2 Yrs |
0.7 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 2 |
- |
0.6 |
0.5 |
0.3 |
- |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
0.6 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 3 |
- |
0.5 |
0.4 |
0.2 |
- |
|
Cap Lease Maturg over 3 Yr within 4 Yrs |
0.4 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 4 |
- |
0.4 |
0.3 |
0.1 |
- |
|
Cap Lease Maturg over 4 Yr within 5 Yrs |
0.3 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 5 |
- |
0.3 |
0.2 |
0.0 |
- |
|
Capital Leases - Remaining |
0.1 |
- |
- |
- |
- |
|
Captial Lease-Remaining Maturities |
- |
0.3 |
0.2 |
0.0 |
- |
|
Total Capital Leases |
2.9 |
2.8 |
2.1 |
0.9 |
- |
|
Pension Obligation |
239.2 |
223.5 |
214.7 |
202.8 |
243.9 |
|
Fair value of plan assets |
84.2 |
88.9 |
79.8 |
62.1 |
106.7 |
|
Unfunded Retirement Benefit Obligation |
-155.1 |
- |
- |
- |
- |
|
Funded Status |
- |
-134.7 |
-134.9 |
-140.8 |
-137.2 |
|
Total Funded Status |
-155.1 |
-134.7 |
-134.9 |
-140.8 |
-137.2 |
|
Discount Rate |
1.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expected Return Rate |
1.00% |
- |
- |
- |
- |
|
Expected rate of return |
- |
1.00% |
0.00% |
2.50% |
2.50% |
|
Reserve for Accrued Retirement Benefits |
-127.7 |
-114.4 |
-114.3 |
-120.1 |
-117.3 |
|
Prepaid pension Benefits |
0.5 |
0.6 |
1.6 |
2.7 |
3.9 |
|
Unrecog.actuarial G&L |
-30.5 |
-24.1 |
-25.6 |
-27.0 |
-27.9 |
|
Unrecog.Prior service Cost |
2.7 |
3.3 |
3.4 |
3.6 |
4.1 |
|
Net Assets Recognized on Balance Sheet |
-155.1 |
-134.7 |
-134.9 |
-140.8 |
-137.2 |
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 |
Ernst & Young
ShinNihon LLC |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
Ernst & Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Income Before Tax |
397.7 |
352.9 |
85.5 |
12.4 |
159.0 |
|
Depreciation |
251.8 |
246.5 |
239.5 |
224.9 |
170.6 |
|
Gain on negative goodwill |
-10.7 |
- |
- |
- |
- |
|
Gain on negative goodwill |
- |
0.0 |
- |
- |
- |
|
Increase (decrease) in provision
for bon |
0.2 |
8.8 |
0.0 |
- |
- |
|
Increase (decrease) in provision
for ret |
1.0 |
-10.5 |
-5.6 |
0.0 |
-9.1 |
|
Increase (decrease) in provision
for rep |
-1.4 |
10.7 |
0.0 |
0.0 |
9.7 |
|
Int. and Div. Income |
-12.4 |
-8.3 |
-8.1 |
-10.9 |
-12.3 |
|
Interest Expense |
13.2 |
13.4 |
13.8 |
16.3 |
12.8 |
|
Subsidies |
- |
- |
0.0 |
-25.3 |
0.0 |
|
Loss (gain) on disposal of
noncurrent as |
3.7 |
11.1 |
0.0 |
7.7 |
10.1 |
|
Litigation expense |
- |
- |
- |
0.0 |
9.8 |
|
Impairment losses on assets |
- |
- |
0.0 |
15.4 |
0.0 |
|
Loss (gain) on valuation of
investment s |
9.3 |
16.9 |
0.0 |
- |
- |
|
Loss on adjustment for changes of
accoun |
0.0 |
7.6 |
0.0 |
- |
- |
|
Decrease (increase) in notes and
account |
-29.1 |
-67.6 |
-162.1 |
265.7 |
-136.2 |
|
Decrease (increase) in inventories |
-94.9 |
-99.6 |
195.0 |
-29.2 |
-35.8 |
|
Increase (decrease) in notes and
account |
143.8 |
168.0 |
127.7 |
-397.8 |
-22.2 |
|
Increase (decrease) in cash and
cash equ |
0.0 |
- |
- |
- |
- |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Other, net |
-46.2 |
-77.8 |
-54.6 |
103.8 |
0.1 |
|
Int. and Div. Rcvd. |
12.4 |
10.0 |
6.6 |
11.4 |
14.1 |
|
Interest Paid |
-13.2 |
-13.6 |
-14.0 |
-16.5 |
-13.0 |
|
Subsidies |
6.5 |
11.1 |
10.7 |
7.4 |
0.0 |
|
Litigation paid |
- |
- |
0.0 |
-8.8 |
-0.6 |
|
Taxes Paid |
-226.4 |
-18.4 |
-6.7 |
-73.2 |
-85.3 |
|
Income taxes refund, cash basis |
- |
0.0 |
34.5 |
0.0 |
- |
|
Subs. Increased |
- |
- |
- |
2.6 |
3.0 |
|
Subs'. Merger Related |
- |
- |
- |
0.2 |
0.0 |
|
Cash from Operating Activities |
405.4 |
561.3 |
462.2 |
106.1 |
74.8 |
|
|
|
|
|
|
|
|
Payments For Investments In
Capital |
-15.6 |
- |
- |
- |
- |
|
Purchase of property, plant and
equipmen |
-258.8 |
-101.1 |
-129.0 |
-344.0 |
-264.2 |
|
Purch-Intang.Asset |
-12.5 |
-11.1 |
-5.7 |
-12.1 |
-12.0 |
|
Purch-Invest.Sec |
-41.8 |
-7.2 |
0.0 |
-9.7 |
-31.5 |
|
Sale/redempt.LT inv't in sec. |
- |
- |
0.0 |
19.9 |
0.0 |
|
Sale-Equity of
Subsidiary-Consoli.Change |
- |
- |
- |
0.0 |
6.2 |
|
Purchase of long-term prepaid
expenses |
-28.5 |
- |
- |
- |
- |
|
Proceeds From Transfer Of Business |
7.0 |
- |
- |
- |
- |
|
Proceeds from transfer of business |
- |
0.0 |
- |
- |
- |
|
Payments for investments in
capital |
- |
0.0 |
- |
- |
- |
|
Loan Extended |
- |
- |
0.0 |
-12.8 |
-4.4 |
|
Loan Collected |
- |
- |
0.0 |
7.4 |
4.9 |
|
LT Prepaid Expense |
- |
- |
- |
- |
0.0 |
|
Other, net |
0.1 |
7.0 |
1.9 |
1.3 |
3.5 |
|
Cash from Investing Activities |
-350.1 |
-112.4 |
-132.8 |
-349.9 |
-297.6 |
|
|
|
|
|
|
|
|
Net increase (decrease) in
short-term lo |
-5.6 |
-69.3 |
-83.2 |
89.2 |
-14.8 |
|
Increase (decrease) in commercial
papers |
0.0 |
-70.0 |
-258.1 |
99.6 |
131.1 |
|
Proceeds from long-term loans payable |
10.6 |
0.0 |
161.4 |
147.3 |
150.3 |
|
Repayment of long-term loans
payable |
-45.8 |
-30.3 |
-118.7 |
-62.9 |
-11.1 |
|
Bond issue |
- |
- |
- |
- |
0.0 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Div.Paid to Minority |
-1.3 |
-0.7 |
-4.0 |
-0.8 |
-1.0 |
|
Dividend Paid |
-32.1 |
-27.3 |
-7.6 |
-28.1 |
-24.8 |
|
Redemp-Corp.Bond |
0.0 |
-116.7 |
0.0 |
- |
- |
|
Purchase of Treasury Stock |
-0.1 |
-32.4 |
0.0 |
0.0 |
-9.0 |
|
Other, net |
-1.1 |
-0.7 |
-0.4 |
-0.2 |
0.0 |
|
Cash from Financing Activities |
-75.5 |
-347.4 |
-310.8 |
244.0 |
220.6 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-3.6 |
-7.7 |
0.5 |
-11.4 |
-0.9 |
|
Net Change in Cash |
-23.8 |
93.8 |
19.1 |
-11.1 |
-3.1 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
190.9 |
82.1 |
55.3 |
61.0 |
56.7 |
|
Net Cash - Ending Balance |
167.1 |
175.9 |
74.4 |
49.8 |
53.6 |
|
Cash Interest Paid |
13.2 |
13.6 |
14.0 |
16.5 |
13.0 |
|
Cash Taxes Paid |
226.4 |
18.4 |
-27.8 |
73.2 |
85.3 |
Financial
Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual
Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items
(actual units)
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.51 |
|
|
1 |
Rs.84.85 |
|
Euro |
1 |
Rs.71.43 |
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 |
|
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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.