|
Report Date : |
04.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHOEI CO., LTD. |
|
|
|
|
Registered Office : |
7F, CP10 Bldg., 5-8-5, Ueno Taito-Ku, 110-0005 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
|
Date of Incorporation : |
17.03.1959 |
|
|
|
|
Legal Form : |
Public Parent |
|
|
|
|
Line of Business : |
Manufacture of motorcycles and bicycles |
|
|
|
|
No. of Employees : |
443 |
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
SHOEI CO., LTD.
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
Business
Description
|
SHOEI CO., LTD. is a Japan-based company principally engaged in the manufacture
and sale of motorcycle helmets. The Company is engaged in the manufacture and
sale of helmets for motorcycles, and for government and other official use,
as well as the sale of helmet parts and other products. Through its
subsidiaries, the Company is also engaged in the agency administration
business and marketing business, as well as the sale of helmets and related
components in the Europe and North American areas. As of September 30, 2012,
the Company had five overseas consolidated subsidiaries. For the six months
ended 31 March 2013, SHOEI CO., LTD. revenues increased 14% to Y4.61B. Net
income applicable to common stockholders increased from Y106.7M to Y224.4M.
Revenues reflect an increase in demand for the Company's products and
services due to favorable market conditions. Net income benefited from
Selling,General & Admin. decrease of 1% to Y1.04B (expense), NOP Sales
discount expense decrease of 47% to Y1.9M (expense). |
Industry
|
Industry |
|
|
ANZSIC 2006: |
2399 - Other Transport Equipment Manufacturing Not
Elsewhere Classified |
|
NACE 2002: |
|
|
NAICS 2002: |
|
|
UK SIC 2003: |
|
|
UK SIC 2007: |
|
|
US SIC 1987: |
Key Executives
|
Significant
Developments
|
Financial
Summary
|
Stock
Snapshot
|
1 - Profit & Loss
Item Exchange Rate: USD 1 = JPY 78.81543
2 - Balance Sheet Item Exchange Rate: USD 1 = JPY 77.89127
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
SHOEI CO., LTD. |
|
|
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Taito-Ku |
Japan |
Recreational Products |
109.2 |
443 |
|
|
Subsidiary |
Vulaines-sur-Seine, Seine-et-Marne |
France |
Recreational Products |
15.7 |
14 |
|
|
Subsidiary |
Dusseldorf |
Germany |
Auto and Truck Parts |
|
14 |
|
|
Subsidiary |
Düsseldorf, Nordrhein-Westfalen |
Germany |
Retail (Specialty) |
|
10 |
Executives Report
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
30-Sep-2012 |
30-Sep-2011 |
30-Sep-2010 |
30-Sep-2009 |
30-Sep-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) |
78.815428 |
81.024986 |
89.620246 |
95.204123 |
107.716107 |
|
Auditor |
Deloitte Touche
Tohmatsu LLC |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
109.2 |
111.7 |
112.5 |
108.2 |
139.2 |
|
Revenue |
109.2 |
111.7 |
112.5 |
108.2 |
139.2 |
|
Total Revenue |
109.2 |
111.7 |
112.5 |
108.2 |
139.2 |
|
|
|
|
|
|
|
|
Cost of Revenue |
79.5 |
78.0 |
77.3 |
68.6 |
76.3 |
|
Cost of Revenue, Total |
79.5 |
78.0 |
77.3 |
68.6 |
76.3 |
|
Gross Profit |
29.7 |
33.7 |
35.1 |
39.6 |
63.0 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
13.8 |
12.5 |
10.6 |
13.5 |
14.0 |
|
Labor & Related Expense |
8.9 |
9.0 |
7.3 |
8.0 |
7.3 |
|
Advertising Expense |
5.3 |
5.9 |
5.6 |
6.4 |
7.5 |
|
Total Selling/General/Administrative Expenses |
28.0 |
27.5 |
23.5 |
27.9 |
28.7 |
|
Research & Development |
- |
0.6 |
0.9 |
- |
- |
|
Depreciation |
0.5 |
0.6 |
0.7 |
0.7 |
0.8 |
|
Depreciation/Amortization |
0.5 |
0.6 |
0.7 |
0.7 |
0.8 |
|
Litigation |
- |
- |
0.0 |
0.0 |
0.0 |
|
Impairment-Assets Held for Use |
0.0 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Impairment-Assets Held for Sale |
- |
- |
0.0 |
0.0 |
0.0 |
|
Other Unusual Expense (Income) |
-0.3 |
0.3 |
0.0 |
-0.2 |
-0.1 |
|
Unusual Expense (Income) |
-0.3 |
0.3 |
0.0 |
0.0 |
0.0 |
|
Other Operating Expense |
0.0 |
- |
- |
- |
- |
|
Other Operating Expenses, Total |
0.0 |
- |
- |
- |
- |
|
Total Operating Expense |
107.7 |
107.1 |
102.5 |
97.2 |
105.7 |
|
|
|
|
|
|
|
|
Operating Income |
1.5 |
4.5 |
10.0 |
11.0 |
33.5 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Net Non-Operating |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Income -
Non-Operating |
0.0 |
0.0 |
0.0 |
0.2 |
0.1 |
|
Investment Income -
Non-Operating |
0.6 |
-0.3 |
1.0 |
3.0 |
-0.3 |
|
Interest/Investment Income - Non-Operating |
0.6 |
-0.3 |
1.0 |
3.2 |
-0.2 |
|
Interest Income (Expense) - Net Non-Operating Total |
0.6 |
-0.3 |
1.0 |
3.2 |
-0.2 |
|
Gain (Loss) on Sale of Assets |
0.0 |
0.0 |
-0.1 |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
0.0 |
-0.1 |
-0.1 |
-0.1 |
-0.5 |
|
Other, Net |
0.0 |
-0.1 |
-0.1 |
-0.1 |
-0.5 |
|
Income Before Tax |
2.1 |
4.2 |
10.8 |
14.1 |
32.8 |
|
|
|
|
|
|
|
|
Total Income Tax |
1.3 |
1.6 |
3.7 |
5.3 |
12.2 |
|
Income After Tax |
0.8 |
2.7 |
7.1 |
8.8 |
20.6 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
0.8 |
2.7 |
7.1 |
8.8 |
20.6 |
|
Net Income |
0.8 |
2.7 |
7.1 |
8.8 |
20.6 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Adjustments to Net Income |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Common Excl Extraord Items |
0.8 |
2.7 |
7.1 |
8.8 |
20.6 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
0.8 |
2.7 |
7.1 |
8.8 |
20.6 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
13.8 |
13.8 |
13.8 |
14.4 |
14.5 |
|
Basic EPS Excl Extraord Items |
0.06 |
0.20 |
0.52 |
0.61 |
1.42 |
|
Basic/Primary EPS Incl Extraord Items |
0.06 |
0.20 |
0.52 |
0.61 |
1.42 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
0.8 |
2.7 |
7.1 |
8.8 |
20.6 |
|
Diluted Weighted Average Shares |
13.8 |
13.8 |
13.8 |
14.4 |
14.5 |
|
Diluted EPS Excl Extraord Items |
0.06 |
0.20 |
0.52 |
0.61 |
1.42 |
|
Diluted EPS Incl Extraord Items |
0.06 |
0.20 |
0.52 |
0.61 |
1.42 |
|
Dividends per Share - Common Stock Primary Issue |
0.03 |
0.10 |
0.26 |
0.32 |
0.71 |
|
Gross Dividends - Common Stock |
0.3 |
1.4 |
3.5 |
4.3 |
10.2 |
|
Interest Expense, Supplemental |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Depreciation, Supplemental |
6.9 |
5.6 |
7.9 |
7.7 |
4.6 |
|
Total Special Items |
-0.3 |
0.3 |
0.1 |
0.0 |
0.0 |
|
Normalized Income Before Tax |
1.8 |
4.6 |
10.9 |
14.1 |
32.8 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-0.1 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
1.2 |
1.7 |
3.7 |
5.3 |
12.2 |
|
Normalized Income After Tax |
0.6 |
2.9 |
7.2 |
8.8 |
20.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
0.6 |
2.9 |
7.2 |
8.8 |
20.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.05 |
0.21 |
0.52 |
0.61 |
1.42 |
|
Diluted Normalized EPS |
0.05 |
0.21 |
0.52 |
0.61 |
1.42 |
|
Advertising Expense, Supplemental |
5.6 |
6.1 |
5.8 |
6.6 |
7.7 |
|
Research & Development Exp, Supplemental |
1.1 |
0.6 |
0.9 |
1.3 |
0.9 |
|
Reported Operating Profit |
1.2 |
4.9 |
10.0 |
11.0 |
33.5 |
|
Reported Ordinary Profit |
1.8 |
4.6 |
10.9 |
14.0 |
32.8 |
|
Normalized EBIT |
1.2 |
4.9 |
10.0 |
11.0 |
33.5 |
|
Normalized EBITDA |
8.1 |
10.5 |
17.9 |
18.7 |
38.1 |
|
Current Tax - Total |
1.3 |
- |
- |
- |
- |
|
Current Tax - Total |
1.3 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-0.1 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-0.1 |
- |
- |
- |
- |
|
Income Tax - Total |
1.3 |
- |
- |
- |
- |
|
Interest Cost - Domestic |
0.2 |
0.2 |
0.3 |
0.2 |
0.2 |
|
Service Cost - Domestic |
1.2 |
1.0 |
0.8 |
0.7 |
0.6 |
|
Prior Service Cost - Domestic |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Expected Return on Assets - Domestic |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Actuarial Gains and Losses - Domestic |
0.3 |
0.3 |
0.2 |
0.2 |
0.2 |
|
Domestic Pension Plan Expense |
1.4 |
1.3 |
1.1 |
1.0 |
0.9 |
|
Total Pension Expense |
1.4 |
1.3 |
1.1 |
1.0 |
0.9 |
|
Discount Rate - Domestic |
1.20% |
1.20% |
1.20% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
0.75% |
0.75% |
0.75% |
0.75% |
0.75% |
|
Total Plan Interest Cost |
0.2 |
0.2 |
0.3 |
0.2 |
0.2 |
|
Total Plan Service Cost |
1.2 |
1.0 |
0.8 |
0.7 |
0.6 |
|
Total Plan Expected Return |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
30-Sep-2012 |
30-Sep-2011 |
30-Sep-2010 |
30-Sep-2009 |
30-Sep-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
77.891271 |
77.08 |
83.54 |
89.535 |
106.165 |
|
Auditor |
Deloitte Touche
Tohmatsu LLC |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
36.8 |
41.2 |
38.7 |
24.2 |
35.9 |
|
Cash and Short Term Investments |
36.8 |
41.2 |
38.7 |
24.2 |
35.9 |
|
Accounts Receivable -
Trade, Gross |
11.9 |
11.4 |
13.0 |
12.8 |
17.7 |
|
Provision for Doubtful
Accounts |
0.0 |
-0.2 |
-0.1 |
-0.1 |
-0.2 |
|
Trade Accounts Receivable - Net |
11.9 |
11.2 |
12.9 |
12.7 |
17.4 |
|
Total Receivables, Net |
11.9 |
11.2 |
12.9 |
12.7 |
17.4 |
|
Inventories - Finished Goods |
12.8 |
13.6 |
9.3 |
15.2 |
10.6 |
|
Inventories - Work In Progress |
3.4 |
2.9 |
3.7 |
3.8 |
2.2 |
|
Inventories - Raw Materials |
4.4 |
3.8 |
3.4 |
4.2 |
3.3 |
|
Total Inventory |
20.6 |
20.3 |
16.4 |
23.2 |
16.0 |
|
Deferred Income Tax - Current Asset |
3.1 |
3.2 |
2.7 |
2.2 |
2.5 |
|
Other Current Assets |
4.1 |
4.7 |
2.9 |
5.7 |
4.1 |
|
Other Current Assets, Total |
7.2 |
7.9 |
5.7 |
8.0 |
6.6 |
|
Total Current Assets |
76.5 |
80.7 |
73.7 |
68.1 |
75.9 |
|
|
|
|
|
|
|
|
Buildings |
34.0 |
34.5 |
31.5 |
29.1 |
24.2 |
|
Land/Improvements |
2.7 |
2.7 |
2.5 |
2.5 |
2.2 |
|
Machinery/Equipment |
66.2 |
64.7 |
61.0 |
56.0 |
41.5 |
|
Construction in
Progress |
1.3 |
2.7 |
0.2 |
1.2 |
2.5 |
|
Property/Plant/Equipment - Gross |
104.1 |
104.6 |
95.2 |
88.9 |
70.4 |
|
Accumulated Depreciation |
-85.1 |
-82.8 |
-73.8 |
-65.1 |
-49.9 |
|
Property/Plant/Equipment - Net |
19.1 |
21.8 |
21.4 |
23.9 |
20.6 |
|
Intangibles, Net |
0.4 |
0.4 |
0.5 |
0.7 |
0.8 |
|
Pension Benefits - Overfunded |
- |
- |
- |
- |
0.0 |
|
Deferred Income Tax - Long Term Asset |
1.7 |
1.6 |
1.4 |
1.1 |
1.0 |
|
Restricted Cash - Long Term |
- |
- |
- |
0.0 |
7.5 |
|
Other Long Term Assets |
0.4 |
0.5 |
0.4 |
0.4 |
0.6 |
|
Other Long Term Assets, Total |
2.1 |
2.1 |
1.8 |
1.5 |
9.1 |
|
Total Assets |
98.1 |
105.0 |
97.5 |
94.2 |
106.3 |
|
|
|
|
|
|
|
|
Accounts Payable |
7.4 |
9.7 |
8.0 |
8.5 |
11.3 |
|
Accrued Expenses |
2.2 |
2.4 |
2.2 |
2.7 |
2.2 |
|
Notes Payable/Short Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Taxes Payable |
0.6 |
0.2 |
2.1 |
0.7 |
8.5 |
|
Other Payables |
3.1 |
2.2 |
1.9 |
2.1 |
1.9 |
|
Other Current Liabilities |
1.9 |
1.8 |
2.9 |
2.4 |
3.0 |
|
Other Current liabilities, Total |
5.6 |
4.2 |
6.9 |
5.3 |
13.4 |
|
Total Current Liabilities |
15.2 |
16.2 |
17.1 |
16.5 |
26.9 |
|
|
|
|
|
|
|
|
Total Long Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
|
|
|
|
|
|
|
Reserves |
0.4 |
0.4 |
0.0 |
- |
- |
|
Pension Benefits - Underfunded |
4.7 |
4.0 |
3.5 |
2.7 |
2.3 |
|
Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Other Liabilities, Total |
5.1 |
4.4 |
3.5 |
2.8 |
2.4 |
|
Total Liabilities |
20.3 |
20.7 |
20.6 |
19.2 |
29.3 |
|
|
|
|
|
|
|
|
Common Stock |
17.9 |
18.1 |
16.7 |
15.6 |
13.1 |
|
Common Stock |
17.9 |
18.1 |
16.7 |
15.6 |
13.1 |
|
Additional Paid-In Capital |
5.0 |
5.1 |
4.7 |
4.4 |
3.7 |
|
Retained Earnings (Accumulated Deficit) |
76.3 |
77.7 |
72.9 |
65.5 |
57.7 |
|
Treasury Stock - Common |
-8.7 |
-8.8 |
-8.1 |
-7.6 |
0.0 |
|
Unrealized Gain (Loss) |
0.0 |
0.0 |
-0.1 |
0.1 |
0.4 |
|
Translation Adjustment |
-12.8 |
-7.8 |
-9.1 |
-3.0 |
2.1 |
|
Other Equity, Total |
-12.8 |
-7.8 |
-9.1 |
-3.0 |
2.1 |
|
Total Equity |
77.8 |
84.3 |
76.9 |
74.9 |
77.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
98.1 |
105.0 |
97.5 |
94.2 |
106.3 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
13.8 |
13.8 |
13.8 |
13.8 |
14.5 |
|
Total Common Shares Outstanding |
13.8 |
13.8 |
13.8 |
13.8 |
14.5 |
|
Treasury Shares - Common Stock Primary Issue |
0.8 |
0.8 |
0.8 |
0.8 |
0.0 |
|
Employees |
443 |
442 |
441 |
439 |
429 |
|
Number of Common Shareholders |
3,125 |
3,386 |
3,790 |
4,807 |
3,886 |
|
Pension Obligation - Domestic |
19.1 |
18.8 |
16.4 |
13.6 |
11.5 |
|
Plan Assets - Domestic |
16.0 |
16.0 |
14.4 |
13.1 |
10.9 |
|
Funded Status - Domestic |
-3.2 |
-2.8 |
-2.0 |
-0.5 |
-0.6 |
|
Total Funded Status |
-3.2 |
-2.8 |
-2.0 |
-0.5 |
-0.6 |
|
Discount Rate - Domestic |
1.20% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
0.75% |
0.75% |
0.75% |
0.75% |
0.75% |
|
Accrued Liabilities - Domestic |
-2.2 |
-1.8 |
-1.3 |
-0.9 |
-0.5 |
|
Other Assets, Net - Domestic |
1.0 |
1.0 |
0.8 |
-0.4 |
0.1 |
|
Net Assets Recognized on Balance Sheet |
-1.3 |
-0.8 |
-0.5 |
-1.3 |
-0.4 |
|
Total Plan Obligations |
19.1 |
18.8 |
16.4 |
13.6 |
11.5 |
|
Total Plan Assets |
16.0 |
16.0 |
14.4 |
13.1 |
10.9 |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
30-Sep-2012 |
30-Sep-2011 |
30-Sep-2010 |
30-Sep-2009 |
30-Sep-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) |
78.815428 |
81.024986 |
89.620246 |
95.204123 |
107.716107 |
|
Auditor |
Deloitte Touche
Tohmatsu LLC |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
2.1 |
4.2 |
10.8 |
14.1 |
32.8 |
|
Depreciation |
6.9 |
5.6 |
7.9 |
7.7 |
4.6 |
|
Depreciation/Depletion |
6.9 |
5.6 |
7.9 |
7.7 |
4.6 |
|
Unusual Items |
0.0 |
0.5 |
0.2 |
-0.2 |
0.2 |
|
Other Non-Cash Items |
0.6 |
0.4 |
0.5 |
-0.7 |
-0.1 |
|
Non-Cash Items |
0.6 |
0.9 |
0.7 |
-0.9 |
0.1 |
|
Accounts Receivable |
-1.4 |
3.0 |
-0.4 |
5.7 |
-0.9 |
|
Inventories |
-2.7 |
-1.7 |
6.2 |
-5.7 |
-1.6 |
|
Prepaid Expenses |
- |
- |
- |
0.0 |
0.1 |
|
Other Assets |
-0.2 |
-0.3 |
0.9 |
-0.9 |
0.3 |
|
Accounts Payable |
-1.2 |
0.6 |
0.1 |
-3.0 |
-1.8 |
|
Accrued Expenses |
-0.1 |
0.0 |
-0.6 |
0.0 |
0.1 |
|
Other Liabilities |
1.4 |
-1.5 |
0.3 |
-0.3 |
-0.4 |
|
Other Operating Cash Flow |
-0.4 |
-5.1 |
-1.2 |
-12.9 |
-10.0 |
|
Changes in Working Capital |
-4.6 |
-5.0 |
5.3 |
-17.1 |
-14.2 |
|
Cash from Operating Activities |
5.0 |
5.7 |
24.6 |
3.8 |
23.2 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-4.4 |
-3.6 |
-4.3 |
-7.7 |
-8.3 |
|
Purchase/Acquisition of Intangibles |
-0.2 |
-0.1 |
-0.1 |
-0.1 |
-0.3 |
|
Capital Expenditures |
-4.7 |
-3.7 |
-4.4 |
-7.8 |
-8.6 |
|
Sale of Fixed Assets |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Sale/Maturity of Investment |
0.4 |
0.0 |
0.0 |
13.7 |
6.5 |
|
Purchase of Investments |
- |
0.0 |
-0.4 |
-5.3 |
-8.4 |
|
Other Investing Cash Flow |
0.0 |
-0.1 |
-0.1 |
0.5 |
0.0 |
|
Other Investing Cash Flow Items, Total |
0.4 |
0.0 |
-0.3 |
8.9 |
-1.9 |
|
Cash from Investing Activities |
-4.2 |
-3.8 |
-4.7 |
1.1 |
-10.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
0.0 |
- |
- |
- |
- |
|
Financing Cash Flow Items |
0.0 |
- |
- |
- |
- |
|
Cash Dividends Paid - Common |
-1.4 |
-3.9 |
-4.6 |
-11.6 |
-4.5 |
|
Total Cash Dividends Paid |
-1.4 |
-3.9 |
-4.6 |
-11.6 |
-4.5 |
|
Repurchase/Retirement
of Common |
0.0 |
0.0 |
0.0 |
-7.1 |
0.0 |
|
Common Stock, Net |
0.0 |
0.0 |
0.0 |
-7.1 |
0.0 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
0.0 |
0.0 |
-7.1 |
0.0 |
|
Short Term Debt Issued |
- |
0.0 |
5.6 |
0.0 |
- |
|
Short Term Debt
Reduction |
- |
0.0 |
-5.6 |
0.0 |
- |
|
Short Term Debt, Net |
- |
0.0 |
0.0 |
0.0 |
- |
|
Issuance (Retirement) of Debt, Net |
- |
0.0 |
0.0 |
0.0 |
- |
|
Cash from Financing Activities |
-1.4 |
-3.9 |
-4.6 |
-18.7 |
-4.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-2.8 |
1.2 |
-3.8 |
-3.5 |
0.3 |
|
Net Change in Cash |
-3.5 |
-0.7 |
11.5 |
-17.2 |
8.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
39.9 |
39.5 |
24.2 |
40.0 |
26.9 |
|
Net Cash - Ending Balance |
36.4 |
38.8 |
35.7 |
22.8 |
35.4 |
|
Cash Interest Paid |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash Taxes Paid |
0.4 |
5.1 |
1.3 |
13.0 |
10.1 |
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
30-Sep-2012 |
30-Sep-2011 |
30-Sep-2010 |
30-Sep-2009 |
30-Sep-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) |
78.815428 |
81.024986 |
89.620246 |
95.204123 |
107.716107 |
|
Auditor |
Deloitte Touche
Tohmatsu LLC |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
109.2 |
111.7 |
112.5 |
108.2 |
139.2 |
|
Total Revenue |
109.2 |
111.7 |
112.5 |
108.2 |
139.2 |
|
|
|
|
|
|
|
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Cost of Net Sales |
79.5 |
78.0 |
77.3 |
68.6 |
76.3 |
|
Sales commission expenses |
0.2 |
0.1 |
0.1 |
0.2 |
0.2 |
|
Other Selling/General/Admin. Expense |
0.0 |
- |
- |
- |
- |
|
Packing & freight-out costs |
1.6 |
1.7 |
1.6 |
2.1 |
2.1 |
|
SGA, Advertising expense |
5.3 |
5.9 |
5.6 |
6.4 |
7.5 |
|
Provision for doubtful accounts(SGA) |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Directors'' compensations |
1.8 |
1.6 |
1.5 |
1.2 |
1.1 |
|
SGA, Salaries And Bonuses |
6.5 |
6.8 |
5.3 |
6.1 |
5.5 |
|
SGA, Provision For Bonuses |
0.1 |
0.1 |
0.1 |
0.3 |
0.3 |
|
Periodic retirement benefit costs |
0.2 |
0.2 |
0.1 |
0.2 |
0.1 |
|
SGA, Provision for directors' retirement |
0.3 |
0.3 |
0.3 |
0.2 |
0.2 |
|
Insurance expenses |
2.3 |
1.9 |
1.7 |
1.5 |
2.0 |
|
SGA, Depreciation |
0.5 |
0.6 |
0.7 |
0.7 |
0.8 |
|
Commission expenses |
3.0 |
3.1 |
2.6 |
3.2 |
3.2 |
|
Research & Development expenses |
- |
0.6 |
0.9 |
- |
- |
|
Other general expenses |
6.6 |
5.6 |
4.5 |
6.5 |
6.5 |
|
Insurance income |
0.0 |
- |
- |
- |
- |
|
SP Reversal G on allow.doubt.accounts |
- |
- |
0.0 |
-0.2 |
-0.1 |
|
Employment adjustment subsidy |
-0.3 |
-0.9 |
0.0 |
- |
- |
|
SP Adj. of Office Transfer Expenses |
- |
0.0 |
0.0 |
0.0 |
- |
|
SP Insurance income |
- |
0.0 |
- |
- |
- |
|
SP G on prior year adjust. |
- |
- |
- |
- |
0.0 |
|
SP L. on retire. of fixed assets |
0.0 |
0.1 |
0.1 |
0.1 |
0.1 |
|
SP Assets impairment losses |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
SP L on val. of memberships |
- |
- |
0.0 |
0.0 |
0.0 |
|
NOP Settlement Expenses |
- |
- |
0.0 |
0.0 |
0.0 |
|
SP Loss on disaster |
0.0 |
0.8 |
0.0 |
- |
- |
|
SP L on acct. change on assets retire. |
0.0 |
0.4 |
0.0 |
- |
- |
|
Total Operating Expense |
107.7 |
107.1 |
102.5 |
97.2 |
105.7 |
|
|
|
|
|
|
|
|
SP G on sale of fixed assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
SP L on sale of fixed assets |
0.0 |
0.0 |
-0.1 |
0.0 |
0.0 |
|
SP L on sale of memberships |
0.0 |
0.0 |
0.0 |
- |
- |
|
NOP Interest income |
0.0 |
0.0 |
0.0 |
0.2 |
0.1 |
|
Other Non-Operating Income (Expense) |
0.0 |
- |
- |
- |
- |
|
Loss on insurance cancellation |
0.0 |
- |
- |
- |
- |
|
NOP Cash purchase discounts rcvd |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
NOP Foreign exchange gains |
0.6 |
0.0 |
1.0 |
3.0 |
0.0 |
|
NOP G on cancellation of insurance |
- |
- |
0.0 |
0.3 |
0.0 |
|
NOP Value-added tax refund |
- |
- |
0.0 |
0.0 |
0.1 |
|
NOP Insurance income |
- |
0.1 |
0.0 |
- |
- |
|
Miscellaneous income |
0.2 |
0.1 |
0.1 |
0.2 |
0.1 |
|
NOP Interest expenses |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
NOP Sales discount expense |
-0.1 |
-0.1 |
-0.1 |
-0.2 |
-0.3 |
|
NOP Foreign exchange losses |
0.0 |
-0.3 |
0.0 |
0.0 |
-0.3 |
|
NOP L on sale of trade notes rcvbl. |
-0.1 |
0.0 |
-0.1 |
-0.1 |
-0.2 |
|
NOP L on cancellation of insurance |
- |
0.0 |
- |
- |
- |
|
NOP L on outlet cancellation |
- |
- |
- |
0.0 |
-0.1 |
|
NOP Listing related expenses |
- |
- |
- |
- |
0.0 |
|
NOP Office relocation expenses |
- |
- |
0.0 |
-0.2 |
0.0 |
|
Miscellaneous loss |
0.0 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Net Income Before Taxes |
2.1 |
4.2 |
10.8 |
14.1 |
32.8 |
|
|
|
|
|
|
|
|
Total income taxes |
1.3 |
1.6 |
3.7 |
5.3 |
12.2 |
|
Net Income After Taxes |
0.8 |
2.7 |
7.1 |
8.8 |
20.6 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
0.8 |
2.7 |
7.1 |
8.8 |
20.6 |
|
Net Income |
0.8 |
2.7 |
7.1 |
8.8 |
20.6 |
|
|
|
|
|
|
|
|
Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
0.8 |
2.7 |
7.1 |
8.8 |
20.6 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
0.8 |
2.7 |
7.1 |
8.8 |
20.6 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
13.8 |
13.8 |
13.8 |
14.4 |
14.5 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.06 |
0.20 |
0.52 |
0.61 |
1.42 |
|
Basic EPS Including ExtraOrdinary Items |
0.06 |
0.20 |
0.52 |
0.61 |
1.42 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
0.8 |
2.7 |
7.1 |
8.8 |
20.6 |
|
Diluted Weighted Average Shares |
13.8 |
13.8 |
13.8 |
14.4 |
14.5 |
|
Diluted EPS Excluding ExtraOrd Items |
0.06 |
0.20 |
0.52 |
0.61 |
1.42 |
|
Diluted EPS Including ExtraOrd Items |
0.06 |
0.20 |
0.52 |
0.61 |
1.42 |
|
DPS-Ordinary Shares |
0.03 |
0.10 |
0.26 |
0.32 |
0.71 |
|
Gross Dividends - Common Stock |
0.3 |
1.4 |
3.5 |
4.3 |
10.2 |
|
Normalized Income Before Taxes |
1.8 |
4.6 |
10.9 |
14.1 |
32.8 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
1.2 |
1.7 |
3.7 |
5.3 |
12.2 |
|
Normalized Income After Taxes |
0.6 |
2.9 |
7.2 |
8.8 |
20.6 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
0.6 |
2.9 |
7.2 |
8.8 |
20.6 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.05 |
0.21 |
0.52 |
0.61 |
1.42 |
|
Diluted Normalized EPS |
0.05 |
0.21 |
0.52 |
0.61 |
1.42 |
|
Sales commission expenses |
0.2 |
0.1 |
0.1 |
0.2 |
0.2 |
|
SGA, Advertising expense |
5.3 |
5.9 |
5.6 |
6.4 |
7.5 |
|
Interest Expense |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
R&D expenses(SGA&Cost of Sale) |
1.1 |
0.6 |
0.9 |
1.3 |
0.9 |
|
Depreciation |
6.9 |
5.6 |
7.9 |
7.7 |
4.6 |
|
Income taxes-current |
1.3 |
- |
- |
- |
- |
|
Current Tax - Total |
1.3 |
- |
- |
- |
- |
|
Income taxes-deferred |
-0.1 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-0.1 |
- |
- |
- |
- |
|
Income Tax - Total |
1.3 |
- |
- |
- |
- |
|
Reported Operating Profit |
1.2 |
4.9 |
10.0 |
11.0 |
33.5 |
|
Reported Ordinary Profit |
1.8 |
4.6 |
10.9 |
14.0 |
32.8 |
|
Service Cost |
1.2 |
1.0 |
0.8 |
0.7 |
0.6 |
|
Interest Cost |
0.2 |
0.2 |
0.3 |
0.2 |
0.2 |
|
Prior service cost |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Actuarial Gains and Losses |
0.3 |
0.3 |
0.2 |
0.2 |
0.2 |
|
Expected Return on Plan Assets |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
-0.1 |
|
Domestic Pension Plan Expense |
1.4 |
1.3 |
1.1 |
1.0 |
0.9 |
|
Total Pension Expense |
1.4 |
1.3 |
1.1 |
1.0 |
0.9 |
|
Discount Rate |
1.20% |
1.20% |
1.20% |
2.00% |
2.00% |
|
Expected Rate of Return |
0.75% |
0.75% |
0.75% |
0.75% |
0.75% |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
30-Sep-2012 |
30-Sep-2011 |
30-Sep-2010 |
30-Sep-2009 |
30-Sep-2008 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate |
77.891271 |
77.08 |
83.54 |
89.535 |
106.165 |
|
Auditor |
Deloitte Touche
Tohmatsu LLC |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & deposits |
36.8 |
41.2 |
38.7 |
24.2 |
35.9 |
|
Notes and accounts receivable-trade |
11.9 |
11.4 |
13.0 |
12.8 |
17.7 |
|
Merchandise & Finished goods |
12.8 |
13.6 |
9.3 |
15.2 |
10.6 |
|
Inventories - work-in-process |
3.4 |
2.9 |
3.7 |
3.8 |
2.2 |
|
Inventories - Raw materials & Supplies |
4.4 |
3.8 |
3.4 |
4.2 |
3.3 |
|
Deferred income taxes (current) |
3.1 |
3.2 |
2.7 |
2.2 |
2.5 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Current assets other |
4.1 |
4.7 |
2.9 |
5.7 |
4.1 |
|
Allow.doubt.accounts (current) |
0.0 |
-0.2 |
-0.1 |
-0.1 |
-0.2 |
|
Total current assets |
76.5 |
80.7 |
73.7 |
68.1 |
75.9 |
|
|
|
|
|
|
|
|
Buildings & structures, gross |
34.0 |
34.5 |
31.5 |
29.1 |
24.2 |
|
Accum. depr - bldg&struc |
-24.4 |
-23.9 |
-20.9 |
-18.8 |
-15.2 |
|
Machinery, equipment and vehicles |
21.3 |
21.8 |
19.7 |
18.5 |
14.8 |
|
Accum. depr - machin&vehicles |
-18.3 |
-18.2 |
-15.7 |
-13.5 |
-10.1 |
|
Tools, furniture and fixtures |
44.9 |
42.9 |
41.3 |
37.5 |
26.7 |
|
Accum. depr - tools, furn, fixtur |
-42.3 |
-40.7 |
-37.2 |
-32.8 |
-24.6 |
|
Land |
2.7 |
2.7 |
2.5 |
2.5 |
2.2 |
|
Construction-in-progress |
1.3 |
2.7 |
0.2 |
1.2 |
2.5 |
|
Total intangible assets(1) |
0.4 |
- |
- |
- |
- |
|
Total intangible assets |
- |
- |
0.5 |
0.7 |
0.8 |
|
Software rights |
- |
0.4 |
- |
- |
- |
|
Other intangible assets |
- |
0.0 |
- |
- |
- |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other Other Long Term Assets |
0.0 |
- |
- |
- |
- |
|
Prepaid Pension Fund |
- |
- |
- |
- |
0.0 |
|
Deferred tax assets |
1.7 |
1.6 |
1.4 |
1.1 |
1.0 |
|
LT time deposits |
- |
- |
- |
0.0 |
7.5 |
|
Other assets |
0.4 |
0.5 |
0.4 |
0.4 |
0.6 |
|
Total Assets |
98.1 |
105.0 |
97.5 |
94.2 |
106.3 |
|
|
|
|
|
|
|
|
Accounts payable-trade |
7.4 |
9.7 |
8.0 |
8.5 |
11.3 |
|
Accounts payable-other |
3.1 |
2.2 |
1.9 |
2.1 |
1.9 |
|
Income taxes payable |
0.6 |
0.2 |
2.1 |
0.7 |
8.5 |
|
Reserve for bonuses |
2.2 |
2.4 |
2.2 |
2.7 |
2.2 |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Other current liabilities |
1.9 |
1.8 |
2.9 |
2.4 |
3.0 |
|
Total Current Liabilities |
15.2 |
16.2 |
17.1 |
16.5 |
26.9 |
|
|
|
|
|
|
|
|
Other Long Term Liabilities |
0.0 |
- |
- |
- |
- |
|
Provision for directors'' retirement ben |
2.4 |
2.2 |
2.2 |
1.8 |
1.8 |
|
Reserve for retirement benefits |
2.2 |
1.8 |
1.3 |
0.9 |
0.5 |
|
Other LT liabilities |
- |
0.0 |
0.0 |
0.1 |
0.1 |
|
Asset retirement obligations |
0.4 |
0.4 |
0.0 |
- |
- |
|
Total Liabilities |
20.3 |
20.7 |
20.6 |
19.2 |
29.3 |
|
|
|
|
|
|
|
|
Common Stock |
17.9 |
18.1 |
16.7 |
15.6 |
13.1 |
|
Paid-in-Capital |
5.0 |
5.1 |
4.7 |
4.4 |
3.7 |
|
Retained Earnings |
76.3 |
77.7 |
72.9 |
65.5 |
57.7 |
|
Cumulative translation adjustments |
-12.8 |
-7.8 |
-9.1 |
-3.0 |
2.1 |
|
Deferred hedge gain/loss |
0.0 |
0.0 |
-0.1 |
0.1 |
0.4 |
|
Treasury stocks |
-8.7 |
-8.8 |
-8.1 |
-7.6 |
0.0 |
|
Total Equity |
77.8 |
84.3 |
76.9 |
74.9 |
77.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
98.1 |
105.0 |
97.5 |
94.2 |
106.3 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
13.8 |
13.8 |
13.8 |
13.8 |
14.5 |
|
Total Common Shares Outstanding |
13.8 |
13.8 |
13.8 |
13.8 |
14.5 |
|
T/S-Ordinary Shares |
0.8 |
0.8 |
0.8 |
0.8 |
0.0 |
|
Full-Time Employees |
443 |
442 |
441 |
439 |
429 |
|
Number of Common Shareholders |
3,125 |
3,386 |
3,790 |
4,807 |
3,886 |
|
Pension Obligation |
19.1 |
18.8 |
16.4 |
13.6 |
11.5 |
|
Fair Value of Plan Assets |
16.0 |
16.0 |
14.4 |
13.1 |
10.9 |
|
Funded Status |
-3.2 |
-2.8 |
-2.0 |
-0.5 |
-0.6 |
|
Total Funded Status |
-3.2 |
-2.8 |
-2.0 |
-0.5 |
-0.6 |
|
Discount Rate |
1.20% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return |
0.75% |
0.75% |
0.75% |
0.75% |
0.75% |
|
Unrecognized Actuarial Gains and Losses |
1.5 |
1.6 |
1.4 |
0.3 |
0.7 |
|
Unrecognized prior service cost |
-0.5 |
-0.6 |
-0.6 |
-0.7 |
-0.6 |
|
Reserve for accrued retirement benefits |
-2.2 |
-1.8 |
-1.3 |
-0.9 |
-0.5 |
|
Net Assets Recognized on Balance Sheet |
-1.3 |
-0.8 |
-0.5 |
-1.3 |
-0.4 |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
30-Sep-2012 |
30-Sep-2011 |
30-Sep-2010 |
30-Sep-2009 |
30-Sep-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) |
78.815428 |
81.024986 |
89.620246 |
95.204123 |
107.716107 |
|
Auditor |
Deloitte Touche
Tohmatsu LLC |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Income before income taxes |
2.1 |
4.2 |
10.8 |
14.1 |
32.8 |
|
Depreciation |
6.9 |
5.6 |
7.9 |
7.7 |
4.6 |
|
Cancelled Life Insurance |
- |
- |
0.0 |
-0.3 |
0.0 |
|
Prepaid Pension Fund |
- |
- |
- |
0.0 |
0.1 |
|
Increase (decrease) in allowance for dou |
-0.1 |
0.1 |
0.0 |
-0.1 |
0.0 |
|
Increase (decrease) in provision for bon |
-0.1 |
0.0 |
-0.6 |
0.0 |
0.1 |
|
Increase (decrease) in provision for dir |
0.2 |
-0.2 |
0.3 |
-0.3 |
0.2 |
|
Increase (decrease) in provision for ret |
0.5 |
0.4 |
0.3 |
0.3 |
0.2 |
|
Reversal of int.& dividends rcvd. |
0.0 |
0.0 |
0.0 |
-0.2 |
-0.1 |
|
Interest expenses |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Foreign exchange losses (gains) |
0.0 |
0.2 |
-0.1 |
-0.3 |
-0.3 |
|
L on retire. of fixed assets |
0.0 |
0.1 |
0.1 |
0.1 |
0.1 |
|
L on the sale of fixed assets |
- |
- |
- |
- |
0.0 |
|
Loss (gain) on sales of noncurrent asset |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Impairment losses on assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Val. of membership |
- |
- |
0.0 |
0.0 |
0.0 |
|
Decrease (increase) in notes and account |
-1.4 |
3.0 |
-0.4 |
5.7 |
-0.9 |
|
Decrease (increase) in inventories |
-2.7 |
-1.7 |
6.2 |
-5.7 |
-1.6 |
|
Increase (decrease) in notes and account |
-1.2 |
0.6 |
0.1 |
-3.0 |
-1.8 |
|
Decrease (increase) in other current ass |
-0.2 |
-0.3 |
0.9 |
-0.9 |
0.3 |
|
Increase (decrease) in other current lia |
1.4 |
-1.4 |
0.3 |
-0.3 |
-0.4 |
|
Increase (decrease) in other noncurrent |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other, net |
0.0 |
0.0 |
0.0 |
-0.1 |
0.0 |
|
Int & div.received (cash basis) |
0.0 |
0.0 |
0.0 |
0.2 |
0.1 |
|
Interest paid (cash basis) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income taxes paid |
-1.5 |
-5.1 |
-3.0 |
-13.0 |
-10.1 |
|
Income taxes refund |
1.1 |
0.0 |
1.7 |
0.0 |
- |
|
Adjustment |
- |
0.0 |
0.0 |
- |
- |
|
Loss (gain) on sales of golf club member |
0.0 |
0.0 |
0.0 |
- |
- |
|
L on adj. for asset retire acc. changes |
0.0 |
0.4 |
0.0 |
- |
- |
|
Cash from Operating Activities |
5.0 |
5.7 |
24.6 |
3.8 |
23.2 |
|
|
|
|
|
|
|
|
Time deposit matured |
0.4 |
0.0 |
0.0 |
13.7 |
6.5 |
|
Time deposit made |
- |
0.0 |
-0.4 |
-5.3 |
-8.4 |
|
Purchase of property, plant and equipmen |
-4.4 |
-3.6 |
-4.3 |
-7.7 |
-8.3 |
|
Proceeds from sales of property, plant a |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Purchase of intangible assets |
-0.2 |
-0.1 |
-0.1 |
-0.1 |
-0.3 |
|
Other investments made |
- |
- |
- |
- |
0.0 |
|
Other investments collected |
- |
- |
- |
- |
0.0 |
|
Return of insurance reserve |
- |
- |
0.0 |
0.6 |
0.0 |
|
Other, net |
0.0 |
-0.1 |
-0.1 |
-0.1 |
- |
|
Proc. from sales of golf club member. |
0.0 |
0.0 |
0.0 |
- |
- |
|
Cash from Investing Activities |
-4.2 |
-3.8 |
-4.7 |
1.1 |
-10.5 |
|
|
|
|
|
|
|
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Increase in short-term loans payable |
- |
0.0 |
5.6 |
0.0 |
- |
|
Decrease in short-term loans payable |
- |
0.0 |
-5.6 |
0.0 |
- |
|
Treasury stock purchased |
0.0 |
0.0 |
0.0 |
-7.1 |
0.0 |
|
Cash dividends paid |
-1.4 |
-3.9 |
-4.6 |
-11.6 |
-4.5 |
|
Cash from Financing Activities |
-1.4 |
-3.9 |
-4.6 |
-18.7 |
-4.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-2.8 |
1.2 |
-3.8 |
-3.5 |
0.3 |
|
Net increase (decrease) in cash and cash |
-3.5 |
-0.7 |
11.5 |
-17.2 |
8.5 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
39.9 |
39.5 |
24.2 |
40.0 |
26.9 |
|
Net Cash - Ending Balance |
36.4 |
38.8 |
35.7 |
22.8 |
35.4 |
|
Cash Interest Paid |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash Taxes Paid |
0.4 |
5.1 |
1.3 |
13.0 |
10.1 |
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ANNUAL RATIOS
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.57 |
|
|
1 |
Rs.86.15 |
|
Euro |
1 |
Rs.73.64 |
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.