|
Report Date : |
03.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
IHARA CHEMICAL INDUSTRY CO., LTD. |
|
|
|
|
Registered Office : |
1-4-26, Ikenohata Taito-Ku, 110-0008 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.10.2012 |
|
|
|
|
Date of Incorporation : |
November 1965 |
|
|
|
|
Legal Form : |
Public Parent |
|
|
|
|
Line of Business : |
Subject mainly engaged in the agricultural chemicals and chemical products businesses. |
|
|
|
|
No. of Employees : |
449 |
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
IHARA CHEMICAL
INDUSTRY CO., LTD.
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business
Description
|
IHARA CHEMICAL INDUSTRY CO., LTD. is a Japan-based company mainly engaged
in the agricultural chemicals and chemical products businesses. The Company
operates through three business segments. The Agricultural Chemical segment
is engaged in the manufacture and sale of conformation for chemical
herbicides and bactericides, agricultural chemical raw materials, the
research and development business, as well as the manufacture and assessment
of new molecular entities (NMEs). The Chemical Product segment is engaged in
the manufacture and sale of toluene and xylene-based chemicals, fine
chemicals and industrial chemicals. The Others segment engages in the
manufacture and sale of bio products, pollution control chemicals and
equipment. On December 19, 2011, the Company fully acquired a Tokyo-based
consolidated subsidiary. For the three months ended 31 January 2013, IHARA
CHEMICAL INDUSTRY CO., LTD. revenues increased 9% to Y7.52B. Net income
applicable to common stockholders increased 17% to Y811M. Revenues reflect
Pesticide Business segment increase of 32% to Y5.37B, Other segment increase
of 16% to Y236M. Net income benefited from Pesticide Business segment income
increase of 13% to Y919M, Other segment income increase from Y4M to Y16M. |
Industry
|
Industry |
|
|
ANZSIC 2006: |
1899 - Other Basic Chemical Product Manufacturing
Not Elsewhere Classified |
|
NACE 2002: |
2466 - Manufacture of other chemical products not
elsewhere classified |
|
NAICS 2002: |
|
|
UK SIC 2003: |
2466 - Manufacture of other chemical products not
elsewhere classified |
|
UK SIC 2007: |
|
|
US SIC 1987: |
2899 - Chemicals and Chemical Preparations, Not
Elsewhere Classified |
Key Executives
|
Significant Developments
|
Financial
Summary
|
Stock Snapshot
|
1 - Profit &
Loss Item Exchange Rate: USD 1 = JPY 79.02654
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 79.61775
|
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IHARA CHEMICAL
INDUSTRY CO., LTD. |
|
|
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Taito-Ku |
Japan |
Chemical Manufacturing |
340.8 |
449 |
|
|
Subsidiary |
Fuji, Shizuoka |
Japan |
Business Services |
|
250 |
|
|
Subsidiary |
Shanghai, Shanghai |
China |
Chemical Manufacturing |
25.3 |
220 |
|
|
Subsidiary |
Shizuoka |
Japan |
Chemical Manufacturing |
|
|
|
Executives Report
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
31-Oct-2012 |
31-Oct-2011 |
31-Oct-2010 |
31-Oct-2009 |
31-Oct-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) |
79.026545 |
80.585055 |
88.894536 |
94.356055 |
106.378402 |
|
Auditor |
|
Fuyou Audit
Corporation |
Fuyou Audit
Corporation |
Fuyou Audit
Corporation |
Fuyou Audit
Corporation |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
340.8 |
319.1 |
256.0 |
228.0 |
234.3 |
|
Revenue |
340.8 |
319.1 |
256.0 |
228.0 |
234.3 |
|
Total Revenue |
340.8 |
319.1 |
256.0 |
228.0 |
234.3 |
|
|
|
|
|
|
|
|
Cost of Revenue |
254.6 |
233.4 |
187.1 |
175.1 |
179.5 |
|
Cost of Revenue, Total |
254.6 |
233.4 |
187.1 |
175.1 |
179.5 |
|
Gross Profit |
86.2 |
85.7 |
68.9 |
52.9 |
54.8 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
57.7 |
21.7 |
18.0 |
16.7 |
15.9 |
|
Labor & Related Expense |
- |
15.2 |
12.7 |
11.7 |
10.6 |
|
Total Selling/General/Administrative Expenses |
57.7 |
36.9 |
30.8 |
28.4 |
26.5 |
|
Research & Development |
- |
19.4 |
17.6 |
16.7 |
15.2 |
|
Depreciation |
- |
0.5 |
0.3 |
0.6 |
0.3 |
|
Depreciation/Amortization |
- |
0.5 |
0.3 |
0.6 |
0.3 |
|
Litigation |
- |
0.0 |
0.9 |
0.0 |
- |
|
Impairment-Assets Held for Use |
2.4 |
1.2 |
2.1 |
1.4 |
0.6 |
|
Impairment-Assets Held for Sale |
0.3 |
- |
0.0 |
0.3 |
0.0 |
|
Other Unusual Expense (Income) |
-5.5 |
-0.8 |
-1.5 |
0.0 |
1.8 |
|
Unusual Expense (Income) |
-2.7 |
0.4 |
1.4 |
1.8 |
2.3 |
|
Total Operating Expense |
309.6 |
290.6 |
237.3 |
222.6 |
223.8 |
|
|
|
|
|
|
|
|
Operating Income |
31.2 |
28.5 |
18.7 |
5.4 |
10.6 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-0.1 |
-0.1 |
-0.1 |
-0.2 |
-0.3 |
|
Interest Expense, Net Non-Operating |
-0.1 |
-0.1 |
-0.1 |
-0.2 |
-0.3 |
|
Interest Income -
Non-Operating |
0.2 |
0.2 |
0.3 |
0.4 |
0.3 |
|
Investment Income - Non-Operating |
3.7 |
4.1 |
1.8 |
1.1 |
0.6 |
|
Interest/Investment Income - Non-Operating |
3.9 |
4.4 |
2.0 |
1.4 |
0.9 |
|
Interest Income (Expense) - Net Non-Operating Total |
3.8 |
4.2 |
1.9 |
1.2 |
0.6 |
|
Gain (Loss) on Sale of Assets |
0.3 |
0.0 |
3.7 |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
1.0 |
1.3 |
0.6 |
1.2 |
0.9 |
|
Other, Net |
1.0 |
1.3 |
0.6 |
1.2 |
0.9 |
|
Income Before Tax |
36.4 |
34.0 |
25.0 |
7.8 |
12.1 |
|
|
|
|
|
|
|
|
Total Income Tax |
13.7 |
12.2 |
8.5 |
2.9 |
4.2 |
|
Income After Tax |
22.7 |
21.7 |
16.4 |
4.9 |
7.8 |
|
|
|
|
|
|
|
|
Minority Interest |
-2.5 |
-2.5 |
-1.8 |
-1.0 |
-1.1 |
|
Net Income Before Extraord Items |
20.2 |
19.2 |
14.6 |
4.0 |
6.7 |
|
Net Income |
20.2 |
19.2 |
14.6 |
4.0 |
6.7 |
|
|
|
|
|
|
|
|
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 |
20.2 |
19.2 |
14.6 |
4.0 |
6.7 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
20.2 |
19.2 |
14.6 |
4.0 |
6.7 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
45.1 |
45.1 |
45.1 |
45.1 |
45.5 |
|
Basic EPS Excl Extraord Items |
0.45 |
0.43 |
0.32 |
0.09 |
0.15 |
|
Basic/Primary EPS Incl Extraord Items |
0.45 |
0.43 |
0.32 |
0.09 |
0.15 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
20.2 |
19.2 |
14.6 |
4.0 |
6.7 |
|
Diluted Weighted Average Shares |
45.1 |
45.1 |
45.1 |
45.1 |
45.5 |
|
Diluted EPS Excl Extraord Items |
0.45 |
0.43 |
0.32 |
0.09 |
0.15 |
|
Diluted EPS Incl Extraord Items |
0.45 |
0.43 |
0.32 |
0.09 |
0.15 |
|
Dividends per Share - Common Stock Primary Issue |
0.06 |
0.06 |
0.06 |
0.05 |
0.05 |
|
Gross Dividends - Common Stock |
- |
2.8 |
2.5 |
2.4 |
2.1 |
|
Interest Expense, Supplemental |
0.1 |
0.1 |
0.1 |
0.2 |
0.3 |
|
Depreciation, Supplemental |
21.9 |
21.5 |
18.8 |
16.4 |
12.8 |
|
Total Special Items |
-3.0 |
0.4 |
-2.3 |
1.8 |
2.3 |
|
Normalized Income Before Tax |
33.3 |
34.3 |
22.7 |
9.6 |
14.4 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-1.1 |
0.1 |
-0.8 |
0.6 |
0.8 |
|
Inc Tax Ex Impact of Sp Items |
12.5 |
12.4 |
7.8 |
3.6 |
5.1 |
|
Normalized Income After Tax |
20.8 |
22.0 |
14.9 |
6.0 |
9.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
18.3 |
19.4 |
13.1 |
5.1 |
8.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.41 |
0.43 |
0.29 |
0.11 |
0.18 |
|
Diluted Normalized EPS |
0.41 |
0.43 |
0.29 |
0.11 |
0.18 |
|
Research & Development Exp, Supplemental |
- |
20.8 |
19.0 |
18.1 |
17.0 |
|
Reported Operating Profit |
28.5 |
28.8 |
20.1 |
9.5 |
13.2 |
|
Reported Ordinary Profit |
33.3 |
33.6 |
22.7 |
11.9 |
14.5 |
|
Normalized EBIT |
28.5 |
28.8 |
20.1 |
7.2 |
12.9 |
|
Normalized EBITDA |
50.4 |
50.4 |
38.9 |
23.6 |
25.7 |
|
Current Tax - Total |
14.4 |
- |
- |
- |
- |
|
Current Tax - Total |
14.4 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-0.7 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-0.7 |
- |
- |
- |
- |
|
Income Tax - Total |
13.7 |
- |
- |
- |
- |
|
Interest Cost - Domestic |
- |
0.4 |
0.4 |
0.4 |
0.4 |
|
Service Cost - Domestic |
- |
2.5 |
2.5 |
2.5 |
2.7 |
|
Expected Return on Assets - Domestic |
- |
-0.3 |
-0.3 |
-0.3 |
-0.3 |
|
Actuarial Gains and Losses - Domestic |
- |
0.6 |
0.7 |
0.7 |
0.0 |
|
Transition Costs - Domestic |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Domestic Pension Plan Expense |
- |
3.3 |
3.3 |
3.3 |
2.8 |
|
Total Pension Expense |
- |
3.3 |
3.3 |
3.3 |
2.8 |
|
Discount Rate - Domestic |
- |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
- |
2.00% |
2.00% |
2.00% |
2.00% |
|
Total Plan Interest Cost |
- |
0.4 |
0.4 |
0.4 |
0.4 |
|
Total Plan Service Cost |
- |
2.5 |
2.5 |
2.5 |
2.7 |
|
Total Plan Expected Return |
- |
-0.3 |
-0.3 |
-0.3 |
-0.3 |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
31-Oct-2012 |
31-Oct-2011 |
31-Oct-2010 |
31-Oct-2009 |
31-Oct-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
79.617752 |
77.975 |
80.55 |
90.52 |
98.35 |
|
Auditor |
|
Fuyou Audit
Corporation |
Fuyou Audit
Corporation |
Fuyou Audit
Corporation |
Fuyou Audit
Corporation |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash & Equivalents |
92.8 |
94.7 |
72.7 |
56.5 |
52.0 |
|
Short Term Investments |
12.5 |
19.2 |
18.6 |
7.1 |
1.0 |
|
Cash and Short Term Investments |
105.3 |
113.9 |
91.3 |
63.7 |
53.0 |
|
Accounts Receivable -
Trade, Gross |
96.4 |
89.6 |
88.3 |
68.8 |
79.3 |
|
Provision for Doubtful
Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Trade Accounts Receivable - Net |
96.4 |
89.6 |
88.3 |
68.8 |
79.3 |
|
Total Receivables, Net |
96.4 |
89.6 |
88.3 |
68.8 |
79.3 |
|
Inventories - Finished Goods |
64.8 |
52.6 |
54.7 |
55.2 |
44.2 |
|
Inventories - Work In Progress |
21.8 |
21.5 |
24.0 |
19.5 |
17.5 |
|
Inventories - Raw Materials |
19.0 |
20.6 |
15.0 |
13.2 |
17.7 |
|
Total Inventory |
105.6 |
94.8 |
93.8 |
87.9 |
79.4 |
|
Deferred Income Tax - Current Asset |
5.4 |
5.6 |
4.8 |
4.3 |
5.6 |
|
Other Current Assets |
11.0 |
6.2 |
6.4 |
11.1 |
5.1 |
|
Other Current Assets, Total |
16.5 |
11.8 |
11.1 |
15.4 |
10.7 |
|
Total Current Assets |
323.8 |
310.1 |
284.6 |
235.7 |
222.4 |
|
|
|
|
|
|
|
|
Buildings |
137.8 |
137.9 |
130.7 |
114.8 |
100.0 |
|
Land/Improvements |
47.2 |
47.8 |
46.7 |
41.6 |
38.2 |
|
Machinery/Equipment |
415.4 |
427.3 |
403.8 |
359.8 |
327.9 |
|
Construction in
Progress |
0.2 |
0.0 |
0.0 |
0.9 |
0.8 |
|
Other
Property/Plant/Equipment |
0.4 |
0.4 |
0.1 |
- |
- |
|
Property/Plant/Equipment - Gross |
601.0 |
613.4 |
581.3 |
517.1 |
467.0 |
|
Accumulated Depreciation |
-479.4 |
-483.9 |
-456.6 |
-400.1 |
-365.1 |
|
Property/Plant/Equipment - Net |
121.7 |
129.5 |
124.7 |
117.0 |
101.8 |
|
Intangibles, Net |
0.4 |
0.6 |
0.6 |
0.4 |
0.4 |
|
LT Investment - Affiliate Companies |
- |
41.5 |
40.9 |
- |
- |
|
LT Investments - Other |
117.4 |
75.4 |
70.3 |
101.4 |
99.3 |
|
Long Term Investments |
117.4 |
116.9 |
111.1 |
101.4 |
99.3 |
|
Deferred Income Tax - Long Term Asset |
4.1 |
6.0 |
5.5 |
4.6 |
3.6 |
|
Other Long Term Assets |
8.9 |
4.9 |
5.3 |
7.8 |
7.1 |
|
Other Long Term Assets, Total |
12.9 |
10.8 |
10.8 |
12.3 |
10.8 |
|
Total Assets |
576.3 |
567.9 |
531.8 |
466.8 |
434.7 |
|
|
|
|
|
|
|
|
Accounts Payable |
45.1 |
41.1 |
43.6 |
32.9 |
42.1 |
|
Accrued Expenses |
5.5 |
5.4 |
5.0 |
4.2 |
3.8 |
|
Notes Payable/Short Term Debt |
15.3 |
22.6 |
21.2 |
33.9 |
25.6 |
|
Income Taxes Payable |
7.7 |
8.6 |
9.3 |
0.8 |
3.2 |
|
Other Current Liabilities |
21.0 |
20.8 |
21.0 |
15.0 |
13.0 |
|
Other Current liabilities, Total |
28.7 |
29.4 |
30.3 |
15.8 |
16.2 |
|
Total Current Liabilities |
94.6 |
98.5 |
100.1 |
86.8 |
87.6 |
|
|
|
|
|
|
|
|
Total Long Term Debt |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
15.3 |
22.6 |
21.2 |
33.9 |
25.6 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
7.2 |
9.5 |
8.2 |
11.8 |
11.2 |
|
Deferred Income Tax |
7.2 |
9.5 |
8.2 |
11.8 |
11.2 |
|
Minority Interest |
39.3 |
40.4 |
37.0 |
31.4 |
28.3 |
|
Pension Benefits - Underfunded |
24.1 |
22.9 |
20.8 |
16.6 |
14.0 |
|
Other Long Term Liabilities |
0.6 |
0.6 |
0.4 |
0.3 |
0.2 |
|
Other Liabilities, Total |
24.6 |
23.5 |
21.2 |
16.9 |
14.2 |
|
Total Liabilities |
165.7 |
171.9 |
166.4 |
146.9 |
141.3 |
|
|
|
|
|
|
|
|
Common Stock |
34.7 |
35.4 |
34.3 |
30.5 |
28.1 |
|
Common Stock |
34.7 |
35.4 |
34.3 |
30.5 |
28.1 |
|
Additional Paid-In Capital |
64.6 |
66.0 |
63.9 |
56.9 |
52.3 |
|
Retained Earnings (Accumulated Deficit) |
309.4 |
298.3 |
272.3 |
230.3 |
210.5 |
|
Treasury Stock - Common |
-20.6 |
-21.0 |
-20.3 |
-18.0 |
-16.5 |
|
Unrealized Gain (Loss) |
24.6 |
19.6 |
17.3 |
21.5 |
20.1 |
|
Translation Adjustment |
-2.2 |
-2.3 |
-2.1 |
-1.4 |
-1.1 |
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Other Equity, Total |
-2.1 |
-2.3 |
-2.1 |
-1.4 |
-1.1 |
|
Total Equity |
410.5 |
396.1 |
365.5 |
319.8 |
293.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
576.3 |
567.9 |
531.8 |
466.8 |
434.7 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
45.1 |
45.1 |
45.1 |
45.1 |
45.1 |
|
Total Common Shares Outstanding |
45.1 |
45.1 |
45.1 |
45.1 |
45.1 |
|
Treasury Shares - Common Stock Primary Issue |
6.8 |
6.7 |
6.7 |
6.7 |
6.7 |
|
Employees |
- |
449 |
451 |
438 |
439 |
|
Number of Common Shareholders |
- |
3,980 |
4,439 |
4,324 |
4,531 |
|
Total Capital Leases, Supplemental |
- |
0.3 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 1 |
- |
0.1 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 2 |
- |
0.1 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 3 |
- |
0.1 |
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 |
- |
0.1 |
0.0 |
- |
- |
|
Capital Lease Payments Due in 4-5 Years |
- |
0.1 |
0.0 |
- |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
- |
0.1 |
- |
- |
- |
|
Pension Obligation - Domestic |
- |
40.8 |
38.4 |
33.6 |
29.9 |
|
Plan Assets - Domestic |
- |
23.8 |
23.0 |
20.5 |
19.4 |
|
Funded Status - Domestic |
- |
-17.0 |
-15.4 |
-13.0 |
-10.6 |
|
Total Funded Status |
- |
-17.0 |
-15.4 |
-13.0 |
-10.6 |
|
Discount Rate - Domestic |
- |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
- |
2.00% |
2.00% |
2.00% |
2.00% |
|
Prepaid Benefits - Domestic |
- |
4.1 |
4.0 |
3.4 |
3.3 |
|
Accrued Liabilities - Domestic |
- |
-17.9 |
-16.1 |
-12.9 |
-10.5 |
|
Other Assets, Net - Domestic |
- |
3.2 |
3.2 |
3.5 |
3.5 |
|
Net Assets Recognized on Balance Sheet |
- |
-10.6 |
-8.9 |
-6.0 |
-3.7 |
|
Total Plan Obligations |
- |
40.8 |
38.4 |
33.6 |
29.9 |
|
Total Plan Assets |
- |
23.8 |
23.0 |
20.5 |
19.4 |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
31-Oct-2012 |
31-Oct-2011 |
31-Oct-2010 |
31-Oct-2009 |
31-Oct-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) |
79.026545 |
80.585055 |
88.894536 |
94.356055 |
106.378402 |
|
Auditor |
|
Fuyou Audit
Corporation |
Fuyou Audit
Corporation |
Fuyou Audit
Corporation |
Fuyou Audit
Corporation |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
36.4 |
33.9 |
25.0 |
7.8 |
12.1 |
|
Depreciation |
21.9 |
21.5 |
18.8 |
16.4 |
12.8 |
|
Depreciation/Depletion |
21.9 |
21.5 |
18.8 |
16.4 |
12.8 |
|
Unusual Items |
-3.0 |
0.4 |
-1.7 |
1.4 |
0.6 |
|
Equity in Net Earnings (Loss) |
-1.5 |
-2.2 |
-1.2 |
-0.6 |
-0.4 |
|
Other Non-Cash Items |
-0.2 |
-0.3 |
0.9 |
0.5 |
1.7 |
|
Non-Cash Items |
-4.7 |
-2.0 |
-1.9 |
1.3 |
1.8 |
|
Accounts Receivable |
-8.7 |
1.6 |
-10.0 |
16.6 |
-8.7 |
|
Inventories |
-13.6 |
2.0 |
4.5 |
-1.5 |
0.0 |
|
Prepaid Expenses |
0.5 |
0.0 |
-0.1 |
0.2 |
-0.2 |
|
Accounts Payable |
4.9 |
-3.8 |
6.0 |
-12.4 |
8.0 |
|
Accrued Expenses |
0.2 |
0.2 |
0.2 |
0.1 |
0.0 |
|
Other Operating Cash Flow |
-12.0 |
-12.9 |
3.4 |
-6.9 |
-5.8 |
|
Changes in Working Capital |
-28.8 |
-12.8 |
4.0 |
-3.9 |
-6.6 |
|
Cash from Operating Activities |
24.7 |
40.7 |
45.8 |
21.7 |
20.1 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-25.1 |
-17.8 |
-21.5 |
-16.0 |
-9.0 |
|
Purchase/Acquisition of Intangibles |
0.0 |
-0.2 |
-0.2 |
-0.1 |
-0.1 |
|
Capital Expenditures |
-25.2 |
-17.9 |
-21.7 |
-16.1 |
-9.1 |
|
Sale of Fixed Assets |
0.3 |
0.4 |
0.0 |
0.0 |
0.0 |
|
Sale/Maturity of Investment |
10.4 |
12.6 |
8.1 |
5.6 |
3.8 |
|
Purchase of Investments |
-11.5 |
-9.7 |
-10.5 |
-5.6 |
-5.0 |
|
Other Investing Cash Flow |
0.0 |
0.0 |
3.7 |
0.0 |
0.0 |
|
Other Investing Cash Flow Items, Total |
-0.8 |
3.3 |
1.2 |
0.0 |
-1.2 |
|
Cash from Investing Activities |
-26.0 |
-14.6 |
-20.5 |
-16.2 |
-10.3 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-0.5 |
-0.4 |
-0.3 |
-0.3 |
-0.3 |
|
Financing Cash Flow Items |
-0.5 |
-0.4 |
-0.3 |
-0.3 |
-0.3 |
|
Cash Dividends Paid - Common |
-2.8 |
-2.8 |
-2.5 |
-2.4 |
-2.2 |
|
Total Cash Dividends Paid |
-2.8 |
-2.8 |
-2.5 |
-2.4 |
-2.2 |
|
Sale/Issuance of
Common |
- |
- |
0.0 |
0.0 |
0.0 |
|
Repurchase/Retirement
of Common |
-0.1 |
0.0 |
0.0 |
-0.1 |
-1.9 |
|
Common Stock, Net |
-0.1 |
0.0 |
0.0 |
0.0 |
-1.9 |
|
Issuance (Retirement) of Stock, Net |
-0.1 |
0.0 |
0.0 |
0.0 |
-1.9 |
|
Short Term Debt, Net |
-2.2 |
-3.8 |
-3.5 |
-2.8 |
-3.1 |
|
Long Term Debt
Reduction |
- |
- |
- |
0.0 |
0.0 |
|
Long Term Debt, Net |
- |
- |
- |
0.0 |
0.0 |
|
Issuance (Retirement) of Debt, Net |
-2.2 |
-3.8 |
-3.5 |
-2.8 |
-3.1 |
|
Cash from Financing Activities |
-5.5 |
-7.0 |
-6.4 |
-5.5 |
-7.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.5 |
-0.1 |
-0.2 |
0.0 |
-0.1 |
|
Net Change in Cash |
-6.3 |
18.9 |
18.8 |
0.0 |
2.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
104.7 |
83.8 |
57.2 |
53.8 |
45.5 |
|
Net Cash - Ending Balance |
98.5 |
102.7 |
75.9 |
53.9 |
47.7 |
|
Cash Interest Paid |
0.1 |
0.1 |
0.1 |
0.2 |
0.3 |
|
Cash Taxes Paid |
15.0 |
14.3 |
-0.2 |
6.3 |
4.2 |
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
31-Oct-2012 |
31-Oct-2011 |
31-Oct-2010 |
31-Oct-2009 |
31-Oct-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) |
79.026545 |
80.585055 |
88.894536 |
94.356055 |
106.378402 |
|
Auditor |
|
Fuyou Audit
Corporation |
Fuyou Audit
Corporation |
Fuyou Audit
Corporation |
Fuyou Audit
Corporation |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net sales |
340.8 |
319.1 |
256.0 |
228.0 |
234.3 |
|
Total Revenue |
340.8 |
319.1 |
256.0 |
228.0 |
234.3 |
|
|
|
|
|
|
|
|
Cost of sales |
254.6 |
233.4 |
187.1 |
172.8 |
179.2 |
|
Selling, Gen.&Admin. |
57.7 |
- |
- |
- |
- |
|
Freight Expenses |
- |
7.0 |
5.4 |
5.6 |
5.8 |
|
Payroll |
- |
11.9 |
9.9 |
9.0 |
8.1 |
|
Commission Expenses |
- |
3.2 |
3.5 |
3.0 |
2.7 |
|
Depreciation |
- |
0.5 |
0.3 |
0.6 |
0.3 |
|
Provision for Bonus |
- |
1.7 |
1.3 |
1.2 |
1.2 |
|
Periodic Retirement Benefit |
- |
1.0 |
1.1 |
1.1 |
0.8 |
|
Reserve for Director Retir. Bonus |
- |
0.7 |
0.5 |
0.5 |
0.5 |
|
Research & Development Expenses |
- |
19.4 |
17.6 |
16.7 |
15.2 |
|
Other SGA Expenses |
- |
11.5 |
9.2 |
8.2 |
7.4 |
|
Other Unusual Expense (Income) |
0.0 |
- |
- |
- |
- |
|
Gain on negative goodwill |
-1.4 |
- |
- |
- |
- |
|
SP Gain on Prior Adjustment |
- |
- |
- |
- |
0.0 |
|
SP Insurance income |
- |
0.0 |
-0.4 |
0.0 |
- |
|
SP Compensation received |
- |
0.0 |
-1.1 |
0.0 |
- |
|
SP Gain on insurance adjustment |
-4.0 |
-1.0 |
0.0 |
- |
- |
|
SP Write Off Fixed Assets |
2.4 |
1.2 |
2.1 |
1.4 |
0.6 |
|
LossRelatedToDisaster |
0.0 |
0.2 |
0.0 |
- |
- |
|
SP Reserve prior directors' retir.bene. |
- |
- |
- |
0.0 |
1.8 |
|
Loss on valuation of membership |
0.3 |
- |
- |
- |
- |
|
SP Loss-Valuation Investment. Secs |
- |
- |
0.0 |
0.3 |
0.0 |
|
SP L on val. of inventories |
- |
- |
0.0 |
2.3 |
0.0 |
|
SP Director Retirement |
- |
- |
- |
- |
0.0 |
|
SP Loss on litigation |
- |
0.0 |
0.9 |
0.0 |
- |
|
SP Other Special Losses |
- |
- |
- |
- |
0.0 |
|
NOP Retire. Inventories |
- |
- |
- |
0.0 |
0.1 |
|
NOP Loss Revaluation Inventory |
- |
- |
- |
0.0 |
0.2 |
|
Total Operating Expense |
309.6 |
290.6 |
237.3 |
222.6 |
223.8 |
|
|
|
|
|
|
|
|
SP Gain-Sale Fixed Assets |
0.3 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Foreign Exchange Gains |
0.6 |
- |
- |
- |
- |
|
SP Gain-Sale Inv. Secs. |
0.0 |
2.4 |
0.0 |
- |
- |
|
SP L on liquidation of LT inv't secs. |
- |
- |
- |
0.0 |
-0.1 |
|
SP Loss-Sale Inv. Secs. |
0.0 |
-1.7 |
0.0 |
- |
- |
|
Gain on transfer of intellectual propert |
- |
0.0 |
3.7 |
0.0 |
- |
|
NOP Interest Income |
0.2 |
0.2 |
0.3 |
0.4 |
0.3 |
|
NOP Dividend Income |
1.7 |
1.6 |
0.9 |
0.8 |
0.6 |
|
Other Non-Operating Income (Expense) |
0.0 |
- |
- |
- |
- |
|
NOP Rent Income |
0.5 |
0.6 |
0.5 |
0.4 |
0.4 |
|
NOP Equity Gain |
1.5 |
2.2 |
1.2 |
0.6 |
0.4 |
|
Other |
0.5 |
0.7 |
0.9 |
0.9 |
0.6 |
|
NOP Interest Expense |
-0.1 |
-0.1 |
-0.1 |
-0.2 |
-0.3 |
|
NOP Foreign exchange losses |
0.0 |
-0.3 |
-0.4 |
-0.3 |
-0.4 |
|
Costs of inactive noncurrent assets |
- |
0.0 |
-0.6 |
0.0 |
- |
|
Other(1) |
-0.1 |
0.0 |
-0.1 |
-0.1 |
-0.1 |
|
Net Income Before Taxes |
36.4 |
34.0 |
25.0 |
7.8 |
12.1 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
13.7 |
12.2 |
8.5 |
2.9 |
4.2 |
|
Net Income After Taxes |
22.7 |
21.7 |
16.4 |
4.9 |
7.8 |
|
|
|
|
|
|
|
|
Minority interests in income |
-2.5 |
-2.5 |
-1.8 |
-1.0 |
-1.1 |
|
Net Income Before Extra. Items |
20.2 |
19.2 |
14.6 |
4.0 |
6.7 |
|
Net Income |
20.2 |
19.2 |
14.6 |
4.0 |
6.7 |
|
|
|
|
|
|
|
|
Balancing Item - Net Income Including Af |
0.0 |
- |
- |
- |
- |
|
Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
20.2 |
19.2 |
14.6 |
4.0 |
6.7 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
20.2 |
19.2 |
14.6 |
4.0 |
6.7 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
45.1 |
45.1 |
45.1 |
45.1 |
45.5 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.45 |
0.43 |
0.32 |
0.09 |
0.15 |
|
Basic EPS Including ExtraOrdinary Item |
0.45 |
0.43 |
0.32 |
0.09 |
0.15 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
20.2 |
19.2 |
14.6 |
4.0 |
6.7 |
|
Diluted Weighted Average Shares |
45.1 |
45.1 |
45.1 |
45.1 |
45.5 |
|
Diluted EPS Excluding ExtraOrd Items |
0.45 |
0.43 |
0.32 |
0.09 |
0.15 |
|
Diluted EPS Including ExtraOrd Items |
0.45 |
0.43 |
0.32 |
0.09 |
0.15 |
|
DPS-Common Stock |
0.06 |
0.06 |
0.06 |
0.05 |
0.05 |
|
Gross Dividends - Common Stock |
- |
2.8 |
2.5 |
2.4 |
2.1 |
|
Normalized Income Before Taxes |
33.3 |
34.3 |
22.7 |
9.6 |
14.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
12.5 |
12.4 |
7.8 |
3.6 |
5.1 |
|
Normalized Income After Taxes |
20.8 |
22.0 |
14.9 |
6.0 |
9.4 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
18.3 |
19.4 |
13.1 |
5.1 |
8.2 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.41 |
0.43 |
0.29 |
0.11 |
0.18 |
|
Diluted Normalized EPS |
0.41 |
0.43 |
0.29 |
0.11 |
0.18 |
|
Interest Expense |
0.1 |
0.1 |
0.1 |
0.2 |
0.3 |
|
R&D Expenses |
- |
19.4 |
17.6 |
16.7 |
15.2 |
|
R&D Expenses(COGS) |
- |
1.4 |
1.4 |
1.4 |
1.8 |
|
Depreciation |
21.9 |
21.5 |
18.8 |
16.4 |
12.8 |
|
Current Tax - Total |
14.4 |
- |
- |
- |
- |
|
Current Tax - Total |
14.4 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-0.7 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-0.7 |
- |
- |
- |
- |
|
Income Tax - Total |
13.7 |
- |
- |
- |
- |
|
Reported Operating Profit |
28.5 |
28.8 |
20.1 |
9.5 |
13.2 |
|
Reported Ordinary Profit |
33.3 |
33.6 |
22.7 |
11.9 |
14.5 |
|
Service Cost |
- |
2.5 |
2.5 |
2.5 |
2.7 |
|
Interest Cost |
- |
0.4 |
0.4 |
0.4 |
0.4 |
|
Expected Return on Plan Assets |
- |
-0.3 |
-0.3 |
-0.3 |
-0.3 |
|
Expense due to Accounting Changes |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Actuarial Gains & Losses |
- |
0.6 |
0.7 |
0.7 |
0.0 |
|
Domestic Pension Plan Expense |
- |
3.3 |
3.3 |
3.3 |
2.8 |
|
Total Pension Expense |
- |
3.3 |
3.3 |
3.3 |
2.8 |
|
Discount Rate |
- |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return |
- |
2.00% |
2.00% |
2.00% |
2.00% |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
31-Oct-2012 |
31-Oct-2011 |
31-Oct-2010 |
31-Oct-2009 |
31-Oct-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
79.617752 |
77.975 |
80.55 |
90.52 |
98.35 |
|
Auditor |
|
Fuyou Audit
Corporation |
Fuyou Audit
Corporation |
Fuyou Audit
Corporation |
Fuyou Audit
Corporation |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash and deposits |
92.8 |
94.7 |
72.7 |
56.5 |
52.0 |
|
Notes and accounts receivable-trade |
96.4 |
89.6 |
88.3 |
68.8 |
79.3 |
|
Short-term investment securities |
12.5 |
19.2 |
18.6 |
7.1 |
1.0 |
|
Inventories - merchandise&finished goods |
64.8 |
52.6 |
54.7 |
55.2 |
44.2 |
|
Inventories - work-in-process |
21.8 |
21.5 |
24.0 |
19.5 |
17.5 |
|
Raw materials and supplies |
19.0 |
20.6 |
15.0 |
13.2 |
17.7 |
|
Deferred tax assets |
5.4 |
5.6 |
4.8 |
4.3 |
5.6 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other Asset |
11.0 |
6.2 |
6.4 |
11.1 |
5.1 |
|
Allowance for doubtful accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total current assets |
323.8 |
310.1 |
284.6 |
235.7 |
222.4 |
|
|
|
|
|
|
|
|
Buildings and structures |
137.8 |
137.9 |
130.7 |
114.8 |
100.0 |
|
Machinery, equipment and vehicles |
386.5 |
398.0 |
376.6 |
335.8 |
304.8 |
|
Tools, furniture and fixtures |
28.9 |
29.3 |
27.2 |
23.9 |
23.1 |
|
Land |
47.2 |
47.8 |
46.7 |
41.6 |
38.2 |
|
Construction in progress |
0.2 |
0.0 |
0.0 |
0.9 |
0.8 |
|
Other PPE |
0.4 |
0.4 |
0.1 |
- |
- |
|
Accumulated depreciation |
-479.4 |
-483.9 |
-456.6 |
-400.1 |
-365.1 |
|
Intangible assets |
0.4 |
0.6 |
0.6 |
0.4 |
0.4 |
|
Investment Secs. |
117.4 |
75.4 |
70.3 |
101.4 |
99.3 |
|
Inv't sec. in conso. & affili. - stock |
- |
37.3 |
36.9 |
- |
- |
|
Deferred tax assets |
4.1 |
6.0 |
5.5 |
4.6 |
3.6 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other Total investments and other assets |
0.0 |
- |
- |
- |
- |
|
Other Assets |
9.0 |
5.1 |
5.5 |
7.9 |
7.2 |
|
Inv't capital in conso. & affili. |
- |
4.1 |
4.0 |
- |
- |
|
Allowance for doubtful accounts |
-0.2 |
-0.2 |
-0.2 |
-0.1 |
-0.1 |
|
Adjustment |
- |
- |
0.0 |
- |
- |
|
Other PPE |
0.0 |
- |
- |
- |
- |
|
Total Assets |
576.3 |
567.9 |
531.8 |
466.8 |
434.7 |
|
|
|
|
|
|
|
|
Notes and accounts payable-trade |
45.1 |
41.1 |
43.6 |
32.9 |
42.1 |
|
Short-term loans payable |
8.8 |
11.2 |
14.6 |
16.5 |
17.8 |
|
Income Tax Payable |
7.7 |
8.6 |
9.3 |
0.8 |
3.2 |
|
Reserve for bonuses |
5.5 |
5.4 |
5.0 |
4.2 |
3.8 |
|
Notes payable-facilities |
6.5 |
11.4 |
6.6 |
17.4 |
7.8 |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Other Liability |
21.0 |
20.8 |
21.0 |
15.0 |
13.0 |
|
Total Current Liabilities |
94.6 |
98.5 |
100.1 |
86.8 |
87.6 |
|
|
|
|
|
|
|
|
Allow.Accruded Retirement Benefit |
18.5 |
17.9 |
16.1 |
12.9 |
10.5 |
|
Provision for directors'' retirement ben |
5.6 |
5.1 |
4.7 |
3.7 |
3.5 |
|
Deferred Tax Liability |
7.2 |
9.5 |
8.2 |
11.8 |
11.2 |
|
Other Long Term Liabilities |
0.0 |
- |
- |
- |
- |
|
Other Liability |
0.5 |
0.6 |
0.4 |
0.3 |
0.2 |
|
Minority interests |
39.3 |
40.4 |
37.0 |
31.4 |
28.3 |
|
Total Liabilities |
165.7 |
171.9 |
166.4 |
146.9 |
141.3 |
|
|
|
|
|
|
|
|
Common Stock |
34.7 |
35.4 |
34.3 |
30.5 |
28.1 |
|
Capital surplus |
64.6 |
66.0 |
63.9 |
56.9 |
52.3 |
|
Retained earnings |
309.4 |
298.3 |
272.3 |
230.3 |
210.5 |
|
Valuation difference on available-for-sa |
24.6 |
19.6 |
17.3 |
21.5 |
20.1 |
|
Translation |
-2.2 |
-2.3 |
-2.1 |
-1.4 |
-1.1 |
|
Treasury Stock |
-20.6 |
-21.0 |
-20.3 |
-18.0 |
-16.5 |
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Total net assets |
410.5 |
396.1 |
365.5 |
319.8 |
293.3 |
|
|
|
|
|
|
|
|
Total liabilities and net assets |
576.3 |
567.9 |
531.8 |
466.8 |
434.7 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
45.1 |
45.1 |
45.1 |
45.1 |
45.1 |
|
Total Common Shares Outstanding |
45.1 |
45.1 |
45.1 |
45.1 |
45.1 |
|
T/S-Common Stock |
6.8 |
6.7 |
6.7 |
6.7 |
6.7 |
|
Full-Time Employees |
- |
449 |
451 |
438 |
439 |
|
Number of Common Shareholders |
- |
3,980 |
4,439 |
4,324 |
4,531 |
|
Capital Lease Payments Due within 1 Year |
- |
0.1 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 2 |
- |
0.1 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 3 |
- |
0.1 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 4 |
- |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 5 |
- |
0.0 |
- |
- |
- |
|
Capital Leases - Remaining Maturities |
- |
0.1 |
- |
- |
- |
|
Total Capital Leases |
- |
0.3 |
0.0 |
- |
- |
|
Pension Obligation |
- |
40.8 |
38.4 |
33.6 |
29.9 |
|
Fair Value of Plan Assets |
- |
23.8 |
23.0 |
20.5 |
19.4 |
|
Funded Status |
- |
-17.0 |
-15.4 |
-13.0 |
-10.6 |
|
Total Funded Status |
- |
-17.0 |
-15.4 |
-13.0 |
-10.6 |
|
Discount Rate |
- |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Return on Plan Assets |
- |
2.00% |
2.00% |
2.00% |
2.00% |
|
Accounting Changes |
- |
0.2 |
0.2 |
0.3 |
0.3 |
|
Unrecognized Actuarial Gains & Losses |
- |
3.0 |
3.0 |
3.3 |
3.2 |
|
Prepaid Pension Benefit |
- |
4.1 |
4.0 |
3.4 |
3.3 |
|
Accrued Pension Benefit |
- |
-17.9 |
-16.1 |
-12.9 |
-10.5 |
|
Net Assets Recognized on Balance Sheet |
- |
-10.6 |
-8.9 |
-6.0 |
-3.7 |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
31-Oct-2012 |
31-Oct-2011 |
31-Oct-2010 |
31-Oct-2009 |
31-Oct-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) |
79.026545 |
80.585055 |
88.894536 |
94.356055 |
106.378402 |
|
Auditor |
|
Fuyou Audit
Corporation |
Fuyou Audit
Corporation |
Fuyou Audit Corporation |
Fuyou Audit
Corporation |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income Bf. Tax |
36.4 |
33.9 |
25.0 |
7.8 |
12.1 |
|
Depreciation |
21.9 |
21.5 |
18.8 |
16.4 |
12.8 |
|
Increase (decrease) in provision for ret |
1.0 |
1.2 |
1.4 |
1.5 |
0.3 |
|
Increase (decrease) in provision for dir |
0.6 |
0.2 |
0.5 |
-0.1 |
2.0 |
|
Increase (decrease) in provision for bon |
0.2 |
0.2 |
0.2 |
0.1 |
0.0 |
|
Increase (decrease) in allowance for dou |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Reversal of Interest & Dividend R'cvd. |
-1.9 |
-1.8 |
-1.2 |
-1.1 |
-0.9 |
|
Reversal of Interest Expense |
0.1 |
0.1 |
0.1 |
0.2 |
0.3 |
|
Equity in (earnings) losses of affiliate |
-1.5 |
-2.2 |
-1.2 |
-0.6 |
-0.4 |
|
Gain on negative goodwill |
-1.4 |
- |
- |
- |
- |
|
Gain On Insurance Claim |
-4.0 |
- |
- |
- |
- |
|
L on retire. of fixed assets |
2.4 |
1.2 |
2.1 |
1.4 |
0.6 |
|
Loss (gain) on sales of investment secur |
0.0 |
-0.7 |
0.0 |
- |
- |
|
Gain on transfer of intellectual proper |
- |
0.0 |
-3.7 |
0.0 |
- |
|
Decrease (increase) in notes and account |
-8.7 |
1.6 |
-10.0 |
16.6 |
-8.7 |
|
Decrease (increase) in inventories |
-13.6 |
2.0 |
4.5 |
-1.5 |
0.0 |
|
Increase (decrease) in notes and account |
4.9 |
-3.8 |
6.0 |
-12.4 |
8.0 |
|
Decrease (increase) in prepaid pension c |
0.5 |
0.0 |
-0.1 |
0.2 |
-0.2 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Proceeds from insurance income |
7.1 |
- |
- |
- |
- |
|
Other, net |
-6.5 |
-1.0 |
2.0 |
-1.6 |
-2.4 |
|
Int.&Divid.Received |
2.5 |
2.5 |
1.3 |
1.3 |
1.0 |
|
Interest Paid |
-0.1 |
-0.1 |
-0.1 |
-0.2 |
-0.3 |
|
Tax Paid |
-15.0 |
-14.3 |
0.2 |
-6.3 |
-4.2 |
|
Adjustment |
- |
- |
0.0 |
- |
- |
|
Net cash provided by (used in) operating |
24.7 |
40.7 |
45.8 |
21.7 |
20.1 |
|
|
|
|
|
|
|
|
Time Deposit Collect |
4.0 |
4.3 |
1.9 |
1.4 |
0.0 |
|
Purchase of short-term investment securi |
-1.3 |
- |
- |
- |
- |
|
Purchase of Invest Sec. - Unclassified |
-1.0 |
- |
- |
- |
- |
|
Time Deposit Made |
-4.0 |
-4.3 |
-2.7 |
-1.4 |
-1.2 |
|
Sale of Mkt. Secs. |
6.3 |
5.0 |
6.1 |
0.0 |
- |
|
Proceeds from sales of property, plant a |
0.3 |
0.4 |
0.0 |
0.0 |
0.0 |
|
Proceeds from redemption of investment s |
- |
- |
0.0 |
4.2 |
3.8 |
|
Liquidation of LT inv't secs. |
- |
- |
- |
0.0 |
0.0 |
|
Sale of Inv. Secs. |
0.0 |
3.3 |
0.0 |
- |
- |
|
Purch. Inv. Secs. |
-5.1 |
-5.3 |
-7.8 |
-4.3 |
-3.8 |
|
Purchase of property, plant and equipmen |
-25.1 |
-17.8 |
-21.5 |
-16.0 |
-9.0 |
|
Purch. Intangible |
0.0 |
-0.2 |
-0.2 |
-0.1 |
-0.1 |
|
Other, net(1) |
0.0 |
- |
- |
- |
- |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Proceeds from transfer of intellectual p |
- |
0.0 |
3.7 |
0.0 |
- |
|
Other, net |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net cash provided by (used in) investing |
-26.0 |
-14.6 |
-20.5 |
-16.2 |
-10.3 |
|
|
|
|
|
|
|
|
Net increase (decrease) in short-term lo |
-2.2 |
-3.8 |
-3.5 |
-2.8 |
-3.1 |
|
Repay. LT Debt |
- |
- |
- |
0.0 |
0.0 |
|
Treasury Stock Sold |
- |
- |
0.0 |
0.0 |
0.0 |
|
Purch.Treasury Stock |
-0.1 |
0.0 |
0.0 |
-0.1 |
-1.9 |
|
Dividend Paid |
-2.8 |
-2.8 |
-2.5 |
-2.4 |
-2.2 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Dividend to Minority |
-0.4 |
-0.4 |
-0.3 |
-0.3 |
-0.3 |
|
Other, net |
-0.1 |
0.0 |
0.0 |
- |
- |
|
Net cash provided by (used in) financing |
-5.5 |
-7.0 |
-6.4 |
-5.5 |
-7.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.5 |
-0.1 |
-0.2 |
0.0 |
-0.1 |
|
Net Change in Cash |
-6.3 |
18.9 |
18.8 |
0.0 |
2.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
104.7 |
83.8 |
57.2 |
53.8 |
45.5 |
|
Net Cash - Ending Balance |
98.5 |
102.7 |
75.9 |
53.9 |
47.7 |
|
Cash Interest Paid |
0.1 |
0.1 |
0.1 |
0.2 |
0.3 |
|
Cash Taxes Paid |
15.0 |
14.3 |
-0.2 |
6.3 |
4.2 |
Financial Health
|
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.56.49 |
|
|
1 |
Rs.86.01 |
|
Euro |
1 |
Rs.73.68 |
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.