|
Report Date : |
27.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
NETWORK VALUE COMPONENTS LTD. |
|
|
|
|
Registered Office : |
2F, Nissei Yokosuka Center Bldg. 14-1, Ogawa-cho Yokosuka-Shi, 238-0004 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
02.04.1990 |
|
|
|
|
Legal Form : |
Public Independent |
|
|
|
|
Line of Business : |
Manufacture of communication equipment |
|
|
|
|
No. of Employees : |
85 |
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 : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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
small agricultural sector is highly subsidized and protected, with crop yields
among the highest in the world. While self-sufficient in rice production, Japan
imports about 60% of its food on a caloric basis. For three decades, overall
real economic growth had been spectacular - a 10% average in the 1960s, a 5%
average in the 1970s, and a 4% average in the 1980s. Growth slowed markedly in
the 1990s, averaging just 1.7%, largely because of the after effects of inefficient
investment and an asset price bubble in the late 1980s that required a
protracted period of time for firms to reduce excess debt, capital, and labor.
Modest economic growth continued after 2000, but the economy has fallen into
recession three times since 2008. A sharp downturn in business investment and
global demand for Japan's exports in late 2008 pushed Japan into recession.
Government stimulus spending helped the economy recover in late 2009 and 2010,
but the economy contracted again in 2011 as the massive 9.0 magnitude
earthquake and the ensuing tsunami in March disrupted manufacturing. The
economy has largely recovered in the two years since the disaster, but
reconstruction in the Tohoku region has been uneven. Newly-elected Prime
Minister Shinzo ABE has declared the economy his government's top priority; he
has pledged to reconsider his predecessor's plan to permanently close nuclear
power plants and is pursuing an economic revitalization agenda of fiscal
stimulus and regulatory reform and has said he will press the Bank of Japan to
loosen monetary policy. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2012 stood as the fourth-largest
economy in the world after second-place China, which surpassed Japan in 2001,
and third-place India, which edged out Japan in 2012. The new government will
continue a longstanding debate on restructuring the economy and reining in
Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation,
reliance on exports to drive growth, and an aging and shrinking population are
other major long-term challenges for the economy.
Source
: CIA
Network Value Components
Ltd.
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Business
Description
|
Network Value Components Ltd. is a Japan-based company mainly engaged in
the import, development and sale of network-related products, as well as
network integration business. The Company operates in two business segments.
The Network Solution segment offers infrastructure and network products,
which include switches, routers, wireless local area network (LAN), cabling
and digital broadcasting equipment. It also offers security products,
including firewall, virtual private network (VPN), virus and spam solutions,
log monitors and analyzers, as well as authentication and application
products, such as band control, authentication and virtualization products,
among others. The Network Services segment mainly provides network
consultation, product installation, system configuration, technical support
and hardware maintenance services, as well as remote monitoring services,
among others. In February, 2013, the Company finished the liquidation of a
Tokyo-based wholly owned subsidiary. For the three months ended 31 March
2013, Network Value Components Ltd. revenues increased 3% to Y628.9M. Net
income applicable to common stockholders decreased 42% to Y25.3M. Revenues
reflect an increase in demand for the Company's products and services due to
favorable market conditions. Net income was offset by NOP Exchange losses
increase of 37% to Y4.4M (expense), NOP Interest income decrease of 65% to
Y210K (income). |
Industry
|
Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
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UK SIC 2007: |
26301
- Manufacture of telegraph and telephone apparatus and equipment |
|
US SIC 1987: |
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Key Executives
|
Significant
Developments
|
Financial
Summary
|
Stock
Snapshot
|
1 - Profit &
Loss Item Exchange Rate: USD 1 = JPY 79.79749
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 85.87
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Executives Report
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|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
79.797487 |
79.698224 |
87.789317 |
93.619712 |
103.395546 |
|
Auditor |
Godai Auditing
Firm |
Godai Auditing
Firm |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
33.4 |
31.0 |
33.4 |
24.6 |
24.5 |
|
Revenue |
33.4 |
31.0 |
33.4 |
24.6 |
24.5 |
|
Total Revenue |
33.4 |
31.0 |
33.4 |
24.6 |
24.5 |
|
|
|
|
|
|
|
|
Cost of Revenue |
18.9 |
17.5 |
20.4 |
17.8 |
17.2 |
|
Cost of Revenue, Total |
18.9 |
17.5 |
20.4 |
17.8 |
17.2 |
|
Gross Profit |
14.4 |
13.5 |
12.9 |
6.9 |
7.3 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
6.3 |
7.4 |
8.2 |
5.9 |
4.6 |
|
Labor & Related Expense |
5.2 |
4.5 |
4.8 |
3.7 |
2.9 |
|
Total Selling/General/Administrative Expenses |
11.5 |
11.9 |
13.0 |
9.7 |
7.5 |
|
Depreciation |
0.0 |
0.1 |
0.3 |
0.2 |
0.0 |
|
Amortization of Acquisition Costs |
1.4 |
- |
- |
- |
- |
|
Depreciation/Amortization |
1.4 |
0.1 |
0.3 |
0.2 |
0.0 |
|
Impairment-Assets Held for Use |
0.0 |
0.6 |
0.9 |
0.1 |
0.0 |
|
Impairment-Assets Held for Sale |
0.7 |
0.0 |
4.2 |
1.0 |
0.2 |
|
Other Unusual Expense (Income) |
0.4 |
0.4 |
0.5 |
0.0 |
0.0 |
|
Unusual Expense (Income) |
1.2 |
1.0 |
5.6 |
1.2 |
0.2 |
|
Total Operating Expense |
33.0 |
30.5 |
39.3 |
28.7 |
25.0 |
|
|
|
|
|
|
|
|
Operating Income |
0.4 |
0.5 |
-6.0 |
-4.1 |
-0.6 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-0.1 |
-0.2 |
-0.2 |
-0.1 |
0.0 |
|
Interest Expense, Net Non-Operating |
-0.1 |
-0.2 |
-0.2 |
-0.1 |
0.0 |
|
Interest Income -
Non-Operating |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Investment Income -
Non-Operating |
0.1 |
0.0 |
0.5 |
-0.1 |
0.5 |
|
Interest/Investment Income - Non-Operating |
0.2 |
0.0 |
0.5 |
-0.1 |
0.6 |
|
Interest Income (Expense) - Net Non-Operating Total |
0.0 |
-0.2 |
0.3 |
-0.2 |
0.5 |
|
Gain (Loss) on Sale of Assets |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
0.2 |
0.1 |
-0.2 |
0.3 |
0.0 |
|
Other, Net |
0.2 |
0.1 |
-0.2 |
0.3 |
0.0 |
|
Income Before Tax |
0.7 |
0.4 |
-5.9 |
-4.0 |
-0.1 |
|
|
|
|
|
|
|
|
Total Income Tax |
-0.5 |
0.1 |
0.2 |
0.2 |
0.1 |
|
Income After Tax |
1.2 |
0.2 |
-6.1 |
-4.1 |
-0.1 |
|
|
|
|
|
|
|
|
Minority Interest |
0.2 |
0.0 |
0.0 |
0.1 |
0.0 |
|
Net Income Before Extraord Items |
1.4 |
0.2 |
-6.1 |
-4.0 |
-0.1 |
|
Net Income |
1.4 |
0.2 |
-6.1 |
-4.0 |
-0.1 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
1.4 |
0.2 |
-6.1 |
-4.0 |
-0.1 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
1.4 |
0.2 |
-6.1 |
-4.0 |
-0.1 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Basic EPS Excl Extraord Items |
146.02 |
24.60 |
-651.40 |
-425.20 |
-10.05 |
|
Basic/Primary EPS Incl Extraord Items |
146.02 |
24.60 |
-651.40 |
-425.20 |
-10.05 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
1.4 |
0.2 |
-6.1 |
-4.0 |
-0.1 |
|
Diluted Weighted Average Shares |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted EPS Excl Extraord Items |
146.02 |
24.60 |
-651.40 |
-425.20 |
-10.05 |
|
Diluted EPS Incl Extraord Items |
146.02 |
24.60 |
-651.40 |
-425.20 |
-10.05 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
8.55 |
7.74 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Interest Expense, Supplemental |
0.1 |
0.2 |
0.2 |
0.1 |
0.0 |
|
Depreciation, Supplemental |
1.0 |
1.2 |
1.7 |
1.2 |
1.0 |
|
Total Special Items |
2.4 |
2.4 |
6.9 |
1.1 |
0.3 |
|
Normalized Income Before Tax |
3.1 |
2.8 |
1.0 |
-2.8 |
0.2 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.4 |
0.3 |
2.0 |
0.4 |
0.1 |
|
Inc Tax Ex Impact of Sp Items |
-0.1 |
0.4 |
2.2 |
0.6 |
0.1 |
|
Normalized Income After Tax |
3.3 |
2.3 |
-1.2 |
-3.4 |
0.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
3.4 |
2.3 |
-1.2 |
-3.3 |
0.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
364.84 |
243.34 |
-126.56 |
-346.35 |
7.91 |
|
Diluted Normalized EPS |
364.84 |
243.34 |
-126.56 |
-346.35 |
7.91 |
|
Amort of Acquisition Costs, Supplemental |
1.4 |
1.4 |
1.3 |
0.0 |
0.0 |
|
Rental Expenses |
- |
- |
- |
- |
0.8 |
|
Research & Development Exp, Supplemental |
0.0 |
0.1 |
0.6 |
0.6 |
0.1 |
|
Reported Operating Profit |
1.5 |
1.6 |
-0.1 |
-2.8 |
-0.3 |
|
Reported Ordinary Profit |
1.5 |
1.4 |
-0.5 |
-2.9 |
-0.3 |
|
Normalized EBIT |
1.5 |
1.5 |
-0.4 |
-2.9 |
-0.3 |
|
Normalized EBITDA |
3.9 |
4.1 |
2.6 |
-1.7 |
0.7 |
|
Current Tax - Total |
0.0 |
- |
- |
- |
- |
|
Current Tax - Total |
0.0 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-0.5 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-0.5 |
- |
- |
- |
- |
|
Income Tax - Total |
-0.5 |
- |
- |
- |
- |
|
Defined Contribution Expense - Domestic |
0.2 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Pension Expense |
0.2 |
0.1 |
0.1 |
0.1 |
0.1 |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
85.870003 |
76.94 |
81.105 |
93.095 |
90.65 |
|
Auditor |
Godai Auditing
Firm |
Godai Auditing
Firm |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
2.9 |
1.1 |
1.7 |
0.4 |
1.1 |
|
Cash and Short Term Investments |
2.9 |
1.1 |
1.7 |
0.4 |
1.1 |
|
Accounts Receivable -
Trade, Gross |
5.1 |
4.3 |
6.4 |
5.2 |
8.8 |
|
Provision for Doubtful
Accounts |
0.0 |
0.0 |
-0.3 |
-0.5 |
0.0 |
|
Trade Accounts Receivable - Net |
5.1 |
4.3 |
6.1 |
4.7 |
8.8 |
|
Other Receivables |
- |
- |
- |
0.0 |
0.2 |
|
Total Receivables, Net |
5.1 |
4.3 |
6.1 |
4.7 |
9.0 |
|
Inventories - Finished Goods |
1.2 |
1.5 |
2.3 |
3.0 |
3.0 |
|
Inventories - Work In Progress |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Inventories - Raw Materials |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Inventory |
1.3 |
1.5 |
2.3 |
3.1 |
3.0 |
|
Prepaid Expenses |
0.6 |
0.9 |
0.9 |
1.3 |
1.9 |
|
Deferred Income Tax - Current Asset |
0.5 |
- |
- |
0.0 |
0.2 |
|
Other Current Assets |
0.3 |
0.3 |
0.8 |
1.1 |
0.8 |
|
Other Current Assets, Total |
0.7 |
0.3 |
0.8 |
1.1 |
0.9 |
|
Total Current Assets |
10.5 |
8.1 |
11.8 |
10.5 |
16.0 |
|
|
|
|
|
|
|
|
Buildings |
0.4 |
0.4 |
0.4 |
0.5 |
0.6 |
|
Land/Improvements |
- |
- |
0.0 |
0.2 |
0.2 |
|
Machinery/Equipment |
7.7 |
8.5 |
8.0 |
6.1 |
6.9 |
|
Other
Property/Plant/Equipment |
0.0 |
- |
- |
- |
- |
|
Property/Plant/Equipment - Gross |
8.2 |
8.9 |
8.4 |
6.8 |
7.7 |
|
Accumulated Depreciation |
-6.9 |
-7.3 |
-6.7 |
-5.1 |
-5.4 |
|
Property/Plant/Equipment - Net |
1.2 |
1.7 |
1.7 |
1.8 |
2.3 |
|
Goodwill, Net |
2.6 |
4.3 |
5.5 |
0.0 |
- |
|
Intangibles, Net |
0.2 |
0.3 |
0.4 |
0.5 |
0.4 |
|
LT Investments - Other |
1.7 |
1.7 |
2.4 |
6.8 |
7.3 |
|
Long Term Investments |
1.7 |
1.7 |
2.4 |
6.8 |
7.3 |
|
Note Receivable - Long Term |
0.7 |
0.0 |
0.5 |
0.0 |
- |
|
Deferred Income Tax - Long Term Asset |
- |
- |
- |
0.0 |
0.0 |
|
Other Long Term Assets |
0.2 |
0.6 |
0.4 |
0.8 |
0.9 |
|
Other Long Term Assets, Total |
0.2 |
0.6 |
0.4 |
0.8 |
0.9 |
|
Total Assets |
17.1 |
16.7 |
22.6 |
20.4 |
26.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
1.7 |
0.8 |
3.0 |
1.2 |
2.0 |
|
Notes Payable/Short Term Debt |
2.9 |
3.5 |
5.7 |
4.6 |
7.9 |
|
Current Portion - Long Term Debt/Capital Leases |
1.0 |
2.0 |
1.5 |
0.9 |
0.2 |
|
Customer Advances |
3.8 |
4.2 |
3.3 |
2.4 |
2.5 |
|
Income Taxes Payable |
0.0 |
0.0 |
0.3 |
0.0 |
0.0 |
|
Other Payables |
1.1 |
1.2 |
2.1 |
2.1 |
2.1 |
|
Other Current Liabilities |
0.5 |
0.4 |
0.6 |
0.3 |
0.2 |
|
Other Current liabilities, Total |
5.4 |
5.9 |
6.3 |
4.8 |
4.8 |
|
Total Current Liabilities |
11.1 |
12.1 |
16.5 |
11.5 |
14.9 |
|
|
|
|
|
|
|
|
Long Term Debt |
2.3 |
2.7 |
3.5 |
1.9 |
0.8 |
|
Capital Lease Obligations |
- |
- |
0.0 |
0.0 |
- |
|
Total Long Term Debt |
2.3 |
2.7 |
3.5 |
1.9 |
0.8 |
|
Total Debt |
6.2 |
8.1 |
10.8 |
7.4 |
8.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
0.3 |
0.0 |
0.0 |
- |
0.0 |
|
Deferred Income Tax |
0.3 |
0.0 |
0.0 |
- |
0.0 |
|
Minority Interest |
0.0 |
0.2 |
0.2 |
0.0 |
0.0 |
|
Reserves |
0.1 |
0.1 |
0.0 |
- |
- |
|
Other Long Term Liabilities |
0.0 |
0.0 |
1.2 |
0.1 |
0.0 |
|
Other Liabilities, Total |
0.1 |
0.1 |
1.2 |
0.1 |
0.0 |
|
Total Liabilities |
13.8 |
15.1 |
21.4 |
13.5 |
15.7 |
|
|
|
|
|
|
|
|
Common Stock |
4.3 |
4.8 |
4.6 |
3.9 |
4.0 |
|
Common Stock |
4.3 |
4.8 |
4.6 |
3.9 |
4.0 |
|
Additional Paid-In Capital |
4.5 |
5.0 |
4.8 |
4.1 |
4.2 |
|
Retained Earnings (Accumulated Deficit) |
-6.0 |
-8.1 |
-7.9 |
-1.1 |
3.0 |
|
Treasury Stock - Common |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Unrealized Gain (Loss) |
0.6 |
0.0 |
-0.1 |
0.0 |
0.0 |
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Other Equity, Total |
0.0 |
- |
- |
- |
- |
|
Total Equity |
3.3 |
1.6 |
1.2 |
6.9 |
11.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
17.1 |
16.7 |
22.6 |
20.4 |
26.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Common Shares Outstanding |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Treasury Shares - Common Stock Primary Issue |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees |
85 |
82 |
85 |
88 |
91 |
|
Number of Common Shareholders |
1,038 |
1,136 |
1,186 |
844 |
927 |
|
Deferred Revenue - Current |
3.8 |
4.2 |
3.3 |
2.4 |
2.5 |
|
Total Long Term Debt, Supplemental |
3.2 |
4.7 |
5.0 |
2.8 |
1.0 |
|
Long Term Debt Maturing within 1 Year |
1.0 |
2.0 |
1.5 |
0.9 |
0.2 |
|
Long Term Debt Maturing in Year 2 |
0.9 |
0.9 |
1.5 |
0.9 |
0.2 |
|
Long Term Debt Maturing in Year 3 |
0.7 |
0.6 |
0.7 |
0.8 |
0.2 |
|
Long Term Debt Maturing in Year 4 |
0.3 |
0.4 |
0.5 |
0.1 |
0.2 |
|
Long Term Debt Maturing in Year 5 |
0.1 |
0.8 |
0.3 |
0.0 |
0.1 |
|
Long Term Debt Maturing in 2-3 Years |
1.6 |
1.5 |
2.1 |
1.8 |
0.4 |
|
Long Term Debt Maturing in 4-5 Years |
0.3 |
1.2 |
0.8 |
0.1 |
0.4 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.3 |
0.0 |
0.6 |
0.0 |
0.0 |
|
Total Capital Leases, Supplemental |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 1 |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 2 |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 3 |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 4 |
- |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 5 |
- |
- |
0.0 |
- |
- |
|
Capital Lease Payments Due in 2-3 Years |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in 4-5 Years |
- |
0.0 |
0.0 |
- |
- |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
79.797487 |
79.698224 |
87.789317 |
93.619712 |
103.395546 |
|
Auditor |
Godai Auditing
Firm |
Godai Auditing
Firm |
Deloitte &
Touche LLP |
Deloitte & Touche
LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
0.7 |
0.4 |
-5.9 |
-4.0 |
-0.1 |
|
Depreciation |
1.0 |
1.2 |
1.7 |
1.2 |
1.0 |
|
Depreciation/Depletion |
1.0 |
1.2 |
1.7 |
1.2 |
1.0 |
|
Amortization of Acquisition Costs |
1.4 |
1.4 |
1.3 |
0.0 |
0.0 |
|
Amortization |
1.4 |
1.4 |
1.3 |
0.0 |
0.0 |
|
Unusual Items |
0.4 |
0.9 |
4.9 |
1.1 |
-0.2 |
|
Other Non-Cash Items |
0.4 |
-0.7 |
1.0 |
0.5 |
0.1 |
|
Non-Cash Items |
0.9 |
0.3 |
5.9 |
1.6 |
-0.1 |
|
Accounts Receivable |
-1.3 |
2.3 |
-1.9 |
3.4 |
-0.5 |
|
Inventories |
0.1 |
0.9 |
1.2 |
-0.1 |
-0.3 |
|
Prepaid Expenses |
0.3 |
0.1 |
0.6 |
0.6 |
-1.1 |
|
Other Assets |
-0.1 |
1.1 |
-0.4 |
-0.1 |
-0.1 |
|
Accounts Payable |
1.5 |
-2.1 |
1.3 |
-0.7 |
-1.0 |
|
Taxes Payable |
- |
-0.1 |
0.3 |
0.0 |
-0.1 |
|
Other Liabilities |
0.0 |
0.5 |
-0.3 |
-0.1 |
0.4 |
|
Other Operating Cash Flow |
0.1 |
-0.6 |
-0.3 |
0.1 |
-0.6 |
|
Changes in Working Capital |
0.6 |
2.0 |
0.5 |
3.2 |
-3.2 |
|
Cash from Operating Activities |
4.6 |
5.3 |
3.5 |
2.1 |
-2.4 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-0.6 |
-0.8 |
-1.1 |
-0.6 |
-0.7 |
|
Purchase/Acquisition of Intangibles |
0.0 |
0.0 |
-0.2 |
-0.4 |
-0.1 |
|
Capital Expenditures |
-0.6 |
-0.9 |
-1.3 |
-1.0 |
-0.8 |
|
Acquisition of Business |
-0.4 |
-2.4 |
-3.6 |
0.0 |
0.4 |
|
Sale of Business |
- |
- |
0.0 |
0.0 |
-0.2 |
|
Sale of Fixed Assets |
0.0 |
- |
0.2 |
0.0 |
0.0 |
|
Sale/Maturity of Investment |
0.2 |
0.2 |
0.7 |
0.1 |
0.4 |
|
Purchase of Investments |
-0.7 |
0.0 |
-0.5 |
-0.3 |
-4.1 |
|
Other Investing Cash Flow |
0.0 |
0.1 |
0.1 |
-0.2 |
-0.2 |
|
Other Investing Cash Flow Items, Total |
-0.8 |
-2.0 |
-3.1 |
-0.4 |
-3.7 |
|
Cash from Investing Activities |
-1.4 |
-2.8 |
-4.4 |
-1.4 |
-4.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Financing Cash Flow Items |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Cash Dividends Paid - Common |
0.0 |
0.0 |
0.0 |
-0.1 |
-0.1 |
|
Total Cash Dividends Paid |
0.0 |
0.0 |
0.0 |
-0.1 |
-0.1 |
|
Sale/Issuance of
Common |
- |
0.0 |
0.1 |
0.0 |
0.0 |
|
Repurchase/Retirement
of Common |
- |
- |
- |
0.0 |
-0.1 |
|
Common Stock, Net |
- |
0.0 |
0.1 |
0.0 |
-0.1 |
|
Issuance (Retirement) of Stock, Net |
- |
0.0 |
0.1 |
0.0 |
-0.1 |
|
Short Term Debt Issued |
- |
5.8 |
15.1 |
9.6 |
15.9 |
|
Short Term Debt
Reduction |
- |
-8.3 |
-13.6 |
-12.6 |
-9.0 |
|
Short Term Debt, Net |
-0.2 |
-2.4 |
1.5 |
-3.0 |
6.9 |
|
Long Term Debt Issued |
2.4 |
1.2 |
1.8 |
2.1 |
1.0 |
|
Long Term Debt
Reduction |
-3.4 |
-1.8 |
-1.3 |
-0.3 |
-0.1 |
|
Long Term Debt, Net |
-1.0 |
-0.6 |
0.5 |
1.8 |
0.9 |
|
Issuance (Retirement) of Debt, Net |
-1.2 |
-3.1 |
2.0 |
-1.2 |
7.8 |
|
Cash from Financing Activities |
-1.2 |
-3.1 |
2.1 |
-1.3 |
7.6 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
0.0 |
0.0 |
-0.1 |
|
Net Change in Cash |
2.0 |
-0.6 |
1.1 |
-0.7 |
0.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
1.1 |
1.7 |
0.4 |
1.0 |
0.3 |
|
Net Cash - Ending Balance |
3.1 |
1.1 |
1.5 |
0.4 |
0.9 |
|
Cash Interest Paid |
0.1 |
0.2 |
0.3 |
0.1 |
0.1 |
|
Cash Taxes Paid |
-0.1 |
0.4 |
0.0 |
-0.2 |
0.6 |
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
79.797487 |
79.698224 |
87.789317 |
93.619712 |
103.395546 |
|
Auditor |
Godai Auditing
Firm |
Godai Auditing
Firm |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net sales |
33.4 |
31.0 |
33.4 |
24.6 |
24.5 |
|
Total Revenue |
33.4 |
31.0 |
33.4 |
24.6 |
24.5 |
|
|
|
|
|
|
|
|
Amortization of Goodwill - SGA |
1.4 |
- |
- |
- |
- |
|
Cost of sales |
18.9 |
17.5 |
20.4 |
17.8 |
17.2 |
|
Other SGA |
6.3 |
- |
- |
- |
- |
|
Payrolls |
5.2 |
4.5 |
4.8 |
3.7 |
2.9 |
|
Land and house rent |
- |
- |
- |
- |
0.8 |
|
Depreciation |
0.0 |
- |
- |
- |
- |
|
Provision for Doubtful Accounts (SGA) |
- |
- |
0.5 |
0.4 |
- |
|
Other general expense |
- |
7.4 |
7.7 |
5.5 |
3.8 |
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
SP G on rev. allow. doubt. accts. |
- |
- |
- |
0.0 |
0.0 |
|
SP L on retire. of fixed assets |
0.0 |
0.2 |
0.1 |
0.1 |
0.0 |
|
SP L on val. of LT inv't secs. |
0.7 |
0.0 |
4.2 |
1.0 |
0.2 |
|
SP L on retire. of merchandises |
- |
- |
- |
- |
0.0 |
|
SP Restitution expenses |
- |
- |
- |
- |
0.0 |
|
SP Due diligence expenses |
- |
- |
- |
- |
0.0 |
|
SP L on val. of merchandises |
- |
- |
- |
- |
0.0 |
|
SP Loss on prior period adjustment |
0.0 |
0.2 |
0.0 |
- |
- |
|
SP Assets impairment losses |
0.0 |
0.4 |
0.8 |
0.0 |
0.0 |
|
SP Prov. of allowance for doubtful acco |
0.4 |
0.0 |
0.4 |
0.0 |
- |
|
SP Loss on adjust for changes of acct |
0.0 |
0.2 |
0.0 |
- |
- |
|
SP Other Special Loss |
0.1 |
0.0 |
0.1 |
0.0 |
- |
|
NOP Depreciation expenses |
- |
0.1 |
0.3 |
0.2 |
0.0 |
|
Total Operating Expense |
33.0 |
30.5 |
39.3 |
28.7 |
25.0 |
|
|
|
|
|
|
|
|
SP G on sale of fixed assets |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
SP G on sale of subsidiaries' stocks |
- |
- |
0.0 |
0.0 |
0.0 |
|
SP G on share exchange difference |
- |
- |
- |
- |
0.0 |
|
SP G on sale of LT inv't secs. |
0.2 |
0.0 |
0.3 |
0.0 |
0.4 |
|
SP Gains on equity changes |
- |
- |
- |
0.0 |
0.0 |
|
SP L on sale of fixed assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
SP Loss on equity change |
- |
0.0 |
-0.1 |
0.0 |
- |
|
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 |
|
Other Non-Operating Income (Expense) |
0.0 |
- |
- |
- |
- |
|
Gain On Bad Debts Recovered |
0.0 |
- |
- |
- |
- |
|
NOP Rental income |
- |
- |
0.0 |
0.0 |
0.0 |
|
NOP Exchange gain |
- |
0.0 |
0.2 |
0.0 |
0.1 |
|
NOP G on rental of fixed assets |
0.1 |
0.1 |
0.4 |
0.3 |
0.1 |
|
NOP Consignment income |
- |
- |
- |
- |
0.0 |
|
NOP Misc. income |
- |
- |
- |
0.0 |
0.0 |
|
NOP Other non-op. income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
NOP Interest expenses |
-0.1 |
-0.2 |
-0.2 |
-0.1 |
0.0 |
|
NOP Exchange loss |
-0.1 |
0.0 |
0.0 |
-0.1 |
0.0 |
|
NOP Amortization of share issue expenses |
- |
- |
- |
- |
0.0 |
|
NOP Stock delivery expenses |
- |
- |
- |
- |
0.0 |
|
NOP Formation expense |
- |
- |
- |
0.0 |
-0.1 |
|
NOP Provision for doubtful accounts |
0.0 |
0.0 |
-0.5 |
0.0 |
- |
|
NOP Miscellaneous losses |
- |
- |
- |
- |
0.0 |
|
NOP Other non-op. expenses |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Income Before Taxes |
0.7 |
0.4 |
-5.9 |
-4.0 |
-0.1 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
-0.5 |
0.1 |
0.2 |
0.2 |
0.1 |
|
Net Income After Taxes |
1.2 |
0.2 |
-6.1 |
-4.1 |
-0.1 |
|
|
|
|
|
|
|
|
Minority interests in income |
0.2 |
0.0 |
0.0 |
0.1 |
0.0 |
|
Net Income Before Extra. Items |
1.4 |
0.2 |
-6.1 |
-4.0 |
-0.1 |
|
Net Income |
1.4 |
0.2 |
-6.1 |
-4.0 |
-0.1 |
|
|
|
|
|
|
|
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Directors' Bonus |
- |
- |
- |
0.0 |
0.0 |
|
Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
1.4 |
0.2 |
-6.1 |
-4.0 |
-0.1 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
1.4 |
0.2 |
-6.1 |
-4.0 |
-0.1 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
146.02 |
24.60 |
-651.40 |
-425.20 |
-10.05 |
|
Basic EPS Including ExtraOrdinary Items |
146.02 |
24.60 |
-651.40 |
-425.20 |
-10.05 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
1.4 |
0.2 |
-6.1 |
-4.0 |
-0.1 |
|
Diluted Weighted Average Shares |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted EPS Excluding ExtraOrd Items |
146.02 |
24.60 |
-651.40 |
-425.20 |
-10.05 |
|
Diluted EPS Including ExtraOrd Items |
146.02 |
24.60 |
-651.40 |
-425.20 |
-10.05 |
|
DPS-Common Stock |
0.00 |
0.00 |
0.00 |
8.55 |
7.74 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Normalized Income Before Taxes |
3.1 |
2.8 |
1.0 |
-2.8 |
0.2 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
-0.1 |
0.4 |
2.2 |
0.6 |
0.1 |
|
Normalized Income After Taxes |
3.3 |
2.3 |
-1.2 |
-3.4 |
0.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
3.4 |
2.3 |
-1.2 |
-3.3 |
0.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
364.84 |
243.34 |
-126.56 |
-346.35 |
7.91 |
|
Diluted Normalized EPS |
364.84 |
243.34 |
-126.56 |
-346.35 |
7.91 |
|
Rental Expense |
- |
- |
- |
- |
0.8 |
|
R&D Expense (SGA&Cost of Manuf.) |
0.0 |
0.1 |
0.6 |
0.6 |
0.1 |
|
Interest Expenses |
0.1 |
0.2 |
0.2 |
0.1 |
0.0 |
|
BC - Depreciation of Fixed Assets |
1.0 |
- |
- |
- |
- |
|
Depreciation |
- |
1.2 |
1.7 |
1.2 |
1.0 |
|
BC - Depreciation of Goodwill |
1.4 |
- |
- |
- |
- |
|
Amort. of goodwill |
- |
1.4 |
1.3 |
0.0 |
0.0 |
|
Current Tax - Total |
0.0 |
- |
- |
- |
- |
|
Current Tax - Total |
0.0 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-0.5 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-0.5 |
- |
- |
- |
- |
|
Income Tax - Total |
-0.5 |
- |
- |
- |
- |
|
Reported Operating Profit |
1.5 |
1.6 |
-0.1 |
-2.8 |
-0.3 |
|
Reported Ordinary Profit |
1.5 |
1.4 |
-0.5 |
-2.9 |
-0.3 |
|
Retirement Benefit Expenses Expense For |
0.1 |
- |
- |
- |
- |
|
Defined Accrd. Retire. Expenses |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Pension Expense |
0.2 |
0.1 |
0.1 |
0.1 |
0.1 |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
85.870003 |
76.94 |
81.105 |
93.095 |
90.65 |
|
Auditor |
Godai Auditing
Firm |
Godai Auditing
Firm |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Cash and deposits |
2.9 |
1.1 |
1.7 |
0.4 |
1.1 |
|
Notes and accounts receivable-trade |
5.1 |
4.3 |
6.4 |
5.2 |
8.8 |
|
Inventories - merchandise |
1.2 |
1.5 |
2.3 |
3.0 |
3.0 |
|
Inventories - work-in-process |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Inventories - supplies |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Advance payments-trade |
0.6 |
0.9 |
0.9 |
1.3 |
1.9 |
|
Sales tax receivable |
- |
- |
- |
0.0 |
0.2 |
|
Deferred tax assets |
0.5 |
- |
- |
- |
- |
|
Deferred income taxes (current portion) |
- |
- |
- |
0.0 |
0.2 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Current assets other |
0.3 |
0.3 |
0.8 |
1.1 |
0.8 |
|
Allowance for doubtful accounts(current) |
0.0 |
0.0 |
-0.3 |
-0.5 |
0.0 |
|
Total Current Assets |
10.5 |
8.1 |
11.8 |
10.5 |
16.0 |
|
|
|
|
|
|
|
|
Buildings & structures, gross |
0.4 |
0.4 |
0.4 |
0.5 |
0.6 |
|
Accumulated depreciation(3) |
0.0 |
- |
- |
- |
- |
|
Accumulated depreciation |
-0.1 |
-0.1 |
-0.2 |
-0.3 |
-0.3 |
|
Vehicles, gross |
0.0 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Accumulated Depreciation(1) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Tools, furniture and fixtures |
7.7 |
8.4 |
7.9 |
6.1 |
6.8 |
|
Accumulated depreciation(2) |
-6.8 |
-7.2 |
-6.4 |
-4.8 |
-5.0 |
|
Land |
- |
- |
0.0 |
0.2 |
0.2 |
|
Property/Plant/Equipment, Total - Net |
0.0 |
- |
- |
- |
- |
|
Other |
- |
0.0 |
0.0 |
0.0 |
- |
|
Accumulated depreciation-PPE |
- |
0.0 |
0.0 |
0.0 |
- |
|
Other Total intangible assets |
0.0 |
- |
- |
- |
- |
|
Goodwill |
2.6 |
4.3 |
5.5 |
0.0 |
- |
|
Other intangible assets |
0.2 |
0.3 |
0.4 |
0.5 |
0.4 |
|
Investment securities |
1.7 |
1.7 |
1.8 |
5.5 |
6.3 |
|
Long-term loans receivable |
0.7 |
0.0 |
0.5 |
0.0 |
- |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Deferred income taxes (non-current) |
- |
- |
- |
0.0 |
0.0 |
|
Properties investment, gross |
- |
0.6 |
1.0 |
1.5 |
1.1 |
|
Accumulated Depreciation By Group |
- |
-0.6 |
-0.5 |
-0.2 |
0.0 |
|
Other assets |
0.6 |
0.7 |
2.2 |
0.8 |
0.9 |
|
Allowance for doubtful accounts |
-0.5 |
-0.1 |
-1.8 |
0.0 |
- |
|
Adjustment |
- |
- |
- |
0.0 |
- |
|
Other |
0.0 |
- |
- |
- |
- |
|
Total Assets |
17.1 |
16.7 |
22.6 |
20.4 |
26.9 |
|
|
|
|
|
|
|
|
Accounts payable-trade |
1.7 |
0.8 |
3.0 |
1.2 |
2.0 |
|
Short-term loans payable |
2.9 |
3.5 |
5.7 |
4.6 |
7.9 |
|
Current portion of long-term loans payab |
1.0 |
2.0 |
1.5 |
0.9 |
0.2 |
|
Current lease |
- |
- |
0.0 |
0.0 |
- |
|
Advance received |
3.8 |
4.2 |
3.3 |
2.4 |
2.5 |
|
Accounts payable-other |
1.1 |
1.2 |
2.1 |
2.1 |
2.1 |
|
Income taxes payable |
0.0 |
0.0 |
0.3 |
0.0 |
0.0 |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Other liabilities |
0.5 |
0.4 |
0.6 |
0.3 |
0.2 |
|
Total Current Liabilities |
11.1 |
12.1 |
16.5 |
11.5 |
14.9 |
|
|
|
|
|
|
|
|
Long-term loans payable |
2.3 |
2.7 |
3.5 |
1.9 |
0.8 |
|
Other |
- |
- |
0.0 |
0.0 |
- |
|
Total Long Term Debt |
2.3 |
2.7 |
3.5 |
1.9 |
0.8 |
|
|
|
|
|
|
|
|
Deferred tax liabilities (non-current) |
- |
- |
- |
- |
0.0 |
|
Other Long Term Liabilities |
0.0 |
- |
- |
- |
- |
|
LT accounts payable |
- |
0.0 |
1.2 |
0.0 |
- |
|
Deferred tax liabilities |
0.3 |
0.0 |
0.0 |
- |
- |
|
Asset retirement obligations |
0.1 |
0.1 |
0.0 |
- |
- |
|
Other |
0.0 |
0.0 |
0.0 |
0.1 |
0.0 |
|
Minority interests |
0.0 |
0.2 |
0.2 |
0.0 |
0.0 |
|
Total Liabilities |
13.8 |
15.1 |
21.4 |
13.5 |
15.7 |
|
|
|
|
|
|
|
|
Rounding adjustment Equity |
0.0 |
- |
- |
- |
- |
|
Common stock |
4.3 |
4.8 |
4.6 |
3.9 |
4.0 |
|
Capital surplus |
4.5 |
5.0 |
4.8 |
4.1 |
4.2 |
|
Retained earnings |
-6.0 |
-8.1 |
-7.9 |
-1.1 |
3.0 |
|
Treasury stocks |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Valuation difference on available-for-sa |
0.6 |
0.0 |
-0.1 |
0.0 |
0.0 |
|
Deferred hedge gain/loss |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Equity |
3.3 |
1.6 |
1.2 |
6.9 |
11.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
17.1 |
16.7 |
22.6 |
20.4 |
26.9 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Common Shares Outstanding |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
T/S-Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Advance Received |
3.8 |
4.2 |
3.3 |
2.4 |
2.5 |
|
Full-Time Employees |
85 |
82 |
85 |
88 |
91 |
|
Total Number of Shareholders |
1,038 |
- |
- |
- |
- |
|
Number of Common Shareholders |
- |
1,136 |
1,186 |
844 |
927 |
|
Loans Payable Maturing within a Year |
1.0 |
- |
- |
- |
- |
|
LT Debt Maturing within 1Year |
- |
2.0 |
1.5 |
0.9 |
0.2 |
|
Lns Pble Maturing over a Yr within 2 Yrs |
0.9 |
- |
- |
- |
- |
|
LT Debt Maturing within 1-2Years |
- |
0.9 |
1.5 |
0.9 |
0.2 |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
0.7 |
- |
- |
- |
- |
|
LT Debt Maturing within 2-3 Years |
- |
0.6 |
0.7 |
0.8 |
0.2 |
|
Lns Pble Maturg over 3 Yrs within 4 Yrs |
0.3 |
- |
- |
- |
- |
|
LT Debt Maturing within 3-4 Years |
- |
0.4 |
0.5 |
0.1 |
0.2 |
|
Lns Pble Maturg over 4 Yrs within 5 Yrs |
0.1 |
- |
- |
- |
- |
|
LT Debt Maturing within 4-5 Years |
- |
0.8 |
0.3 |
0.0 |
0.1 |
|
Other Loans Payable Remaining |
0.3 |
- |
- |
- |
- |
|
LT Debt Remaining Maturities |
- |
- |
0.6 |
- |
- |
|
Total Long Term Debt, Supplemental |
3.2 |
4.7 |
5.0 |
2.8 |
1.0 |
|
Capital Lease Maturing within a Year |
0.0 |
- |
- |
- |
- |
|
Capital Lease Payments Due within 1 Year |
- |
0.0 |
0.0 |
- |
- |
|
Cap Lease Maturg over a Yr within 2 Yrs |
0.0 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 2 |
- |
0.0 |
0.0 |
- |
- |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
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 Year 4 |
- |
- |
0.0 |
- |
- |
|
Total Capital Leases, Supplemental |
0.0 |
0.0 |
0.0 |
- |
- |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
79.797487 |
79.698224 |
87.789317 |
93.619712 |
103.395546 |
|
Auditor |
Godai Auditing
Firm |
Godai Auditing
Firm |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte & Touche
LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified |
|
|
|
|
|
|
|
|
Net Income Before Tax |
0.7 |
0.4 |
-5.9 |
-4.0 |
-0.1 |
|
Depreciation |
1.0 |
1.2 |
1.7 |
1.2 |
1.0 |
|
Amort. of goodwill |
1.4 |
1.4 |
1.3 |
0.0 |
0.0 |
|
Increase (decrease) in allowance for dou |
0.4 |
-1.5 |
1.5 |
0.4 |
0.0 |
|
Reversal of interest & dividend rcvd. |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest expenses |
0.1 |
0.2 |
0.2 |
0.1 |
0.0 |
|
Payment guarantee charges |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Foreign exchange losses (gains) |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Amortization of share issue expenses |
- |
- |
- |
- |
0.0 |
|
Stock delivery expenses |
- |
- |
- |
- |
0.0 |
|
Loss (gain) on sales of property, plant |
-0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Loss on retirement of property, plant an |
0.0 |
0.2 |
0.1 |
0.1 |
0.0 |
|
Loss/gain on valua. on invest. securiti. |
0.7 |
0.0 |
4.2 |
1.0 |
0.2 |
|
Loss (gain) on sales of investment secur |
-0.2 |
0.0 |
-0.3 |
0.0 |
-0.4 |
|
G on sale of subsidiaries' stocks |
- |
- |
0.0 |
0.0 |
0.0 |
|
Gain on equity change |
- |
0.0 |
0.1 |
0.0 |
0.0 |
|
G on share exchange difference |
- |
- |
- |
- |
0.0 |
|
Impairment loss |
0.0 |
0.4 |
0.8 |
0.0 |
0.0 |
|
Loss (gain) from prior period adjustment |
0.0 |
0.2 |
0.0 |
- |
- |
|
Loss on adjust for changes of acct |
0.0 |
0.2 |
0.0 |
- |
- |
|
Decrease (increase) in notes and account |
-1.3 |
2.3 |
-1.9 |
3.4 |
-0.5 |
|
Decrease (increase) in inventories |
0.1 |
0.9 |
1.2 |
-0.1 |
-0.3 |
|
Decrease (increase) in advance payments |
0.3 |
0.1 |
0.6 |
0.6 |
-1.0 |
|
(Inc) Dec prepaid expenses |
- |
- |
0.0 |
0.0 |
0.0 |
|
(Inc) Dec LT advance payments |
- |
- |
0.0 |
0.0 |
-0.1 |
|
Decrease (increase) in other noncurrent |
0.0 |
- |
- |
- |
- |
|
Decrease (increase) in claims provable i |
0.0 |
0.5 |
-0.5 |
0.0 |
- |
|
Decrease (increase) in guarantee deposit |
- |
0.0 |
0.0 |
- |
- |
|
(Inc) Des operating receivables |
0.0 |
0.7 |
-0.6 |
0.0 |
- |
|
Increase In Other Current Assets |
-0.1 |
0.6 |
0.0 |
-0.1 |
-0.1 |
|
Decrease (increase) in other assets |
- |
0.0 |
0.1 |
0.0 |
- |
|
Increase (decrease) in notes and account |
1.1 |
-2.3 |
1.4 |
-0.7 |
-1.0 |
|
Increase (decrease) in accounts payable- |
0.4 |
0.2 |
-0.1 |
0.0 |
-0.1 |
|
Increase (decrease) in accrued consumpti |
- |
-0.1 |
0.3 |
0.0 |
-0.1 |
|
Increase/decrease in income tax payable |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Increase (decrease) in advances received |
0.0 |
0.7 |
-0.4 |
-0.1 |
0.3 |
|
Increase (decrease) in accrued expenses |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Increase (decrease) in deposits received |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Increase/decrease in other current L |
0.0 |
-0.1 |
0.1 |
0.0 |
0.0 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Income Taxes Refund |
0.1 |
- |
- |
- |
- |
|
Other, net |
0.2 |
- |
- |
- |
- |
|
Other Operating Activities |
- |
- |
- |
0.0 |
- |
|
Interest and dividend received |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest and the amount of payment of gu |
-0.1 |
-0.2 |
-0.3 |
-0.1 |
-0.1 |
|
Tax paid |
0.0 |
-0.4 |
0.0 |
0.0 |
-0.6 |
|
Tax received |
- |
- |
0.0 |
0.2 |
0.0 |
|
Adjustment |
- |
0.0 |
- |
0.0 |
0.0 |
|
Cash from Operating Activities |
4.6 |
5.3 |
3.5 |
2.1 |
-2.4 |
|
|
|
|
|
|
|
|
Payments Of Loans Receivable |
-0.7 |
- |
- |
- |
- |
|
Payments into time deposits |
0.0 |
- |
- |
- |
- |
|
Purchase of LT inv't secs. |
- |
0.0 |
-0.5 |
-0.2 |
-4.1 |
|
Sale of LT inv't secs. |
0.2 |
0.2 |
0.7 |
0.1 |
0.4 |
|
Purchase of property, plant and equipmen |
-0.6 |
-0.8 |
-1.1 |
-0.6 |
-0.7 |
|
Other, net |
0.0 |
- |
- |
- |
- |
|
Fixed assets retirement exp. |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Proceeds from sales of property, plant a |
0.0 |
- |
0.2 |
0.0 |
0.0 |
|
Purchase of intangible assets |
0.0 |
0.0 |
-0.2 |
-0.4 |
-0.1 |
|
Puch. of subs.' stock |
- |
- |
0.0 |
-0.1 |
0.0 |
|
Purchase of subsid. secs.-con. change |
- |
0.0 |
0.0 |
0.0 |
0.4 |
|
Sale of subsid.'s secs.-con. change |
- |
- |
0.0 |
0.0 |
-0.2 |
|
Loans made |
- |
- |
0.0 |
-0.2 |
-3.3 |
|
Loans collected |
- |
- |
- |
0.0 |
3.2 |
|
Security deposits made |
- |
-0.4 |
0.0 |
0.0 |
-0.1 |
|
Security deposits returned |
- |
0.7 |
0.1 |
- |
- |
|
Payments for transfer of business |
-0.4 |
-2.4 |
-3.6 |
0.0 |
- |
|
Other |
- |
-0.2 |
0.0 |
- |
- |
|
Cash from Investing Activities |
-1.4 |
-2.8 |
-4.4 |
-1.4 |
-4.5 |
|
|
|
|
|
|
|
|
Net increase (decrease) in short-term lo |
-0.2 |
- |
- |
- |
- |
|
ST debts issued |
- |
5.8 |
15.1 |
9.6 |
15.9 |
|
ST debts repaid |
- |
-8.3 |
-13.6 |
-12.6 |
-9.0 |
|
Proceeds from long-term loans payable |
2.4 |
1.2 |
1.8 |
2.1 |
1.0 |
|
Repayment of long-term loans payable |
-3.4 |
-1.8 |
-1.3 |
-0.3 |
-0.1 |
|
Stocks issued |
- |
0.0 |
0.1 |
0.0 |
0.0 |
|
Purch. of treasury |
- |
- |
- |
0.0 |
-0.1 |
|
Repayments of lease obligations |
- |
0.0 |
0.0 |
- |
- |
|
Dividends paid |
0.0 |
0.0 |
0.0 |
-0.1 |
-0.1 |
|
Other, net |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Cash from Financing Activities |
-1.2 |
-3.1 |
2.1 |
-1.3 |
7.6 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
0.0 |
0.0 |
0.0 |
-0.1 |
|
Net Change in Cash |
2.0 |
-0.6 |
1.1 |
-0.7 |
0.6 |
|
|
|
|
|
|
|
|
Net Cash-Beginning Balance |
1.1 |
1.7 |
0.4 |
1.0 |
0.3 |
|
Net Cash-Ending Balance |
3.1 |
1.1 |
1.5 |
0.4 |
0.9 |
|
Cash Interest Paid |
0.1 |
0.2 |
0.3 |
0.1 |
0.1 |
|
Cash Taxes Paid |
-0.1 |
0.4 |
0.0 |
-0.2 |
0.6 |
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per share
items (actual units) |
|
|
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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.58.91 |
|
|
1 |
Rs.90.68 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.