MIRA INFORM REPORT
|
Report Date : |
19.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
FUKUDA CORPORATION |
|
|
|
|
Registered Office : |
3-10 Ichibanboridori-cho, 3-10, Ichibanboridori-cho, Chuo-ku,
Niigata-Shi, 951-8668 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
29.12.1927 |
|
|
|
|
Legal Form : |
Public Parent Company |
|
|
|
|
Line of Business : |
Subject is engaged in the construction business and the real estate
business |
|
|
|
|
No. of Employees : |
1684 |
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 |
|
Maximum Credit Limit : |
USD 16000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
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|
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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 |
Company name & address
FUKUDA CORPORATION
3-10 Ichibanboridori-cho
3-10, Ichibanboridori-cho, Chuo-ku
Niigata-Shi, 951-8668
Japan
Tel: 81-25-2669111
Fax: 81-25-2665591
Web: www.fkd.co.jp
Head Office:
11-2, Akashi-cho, Chuo-ku, Tokyo 104-0044, Japan
Synthesis
Employees: 1,684
Company Type: Public
Parent
Corporate Family: 4
Companies
Traded: Tokyo
Stock Exchange: 1899
Incorporation Date:
29-Dec-1927
Auditor: Ernst & Young
ShinNihon LLC
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2012
Reporting Currency: Japanese
Yen
Annual Sales: 1,396.4 1
Net Income: 34.2
Total Assets:
1,099.5 2
Market Value: 147.5
(07-Jun-2013)
Credit Limit : USD 16000000
Business Description
FUKUDA CORPORATION is mainly engaged in the construction business and
the real estate business. The Company has three business segments. The
Construction segment is mainly engaged in the contract and construction of construction
works along with its subsidiaries and associated companies, as well as the
manufacturing, sale and lease of construction works related materials and
equipment. The Real Estate segment is engaged in the development, lease,
purchase and sale of real estate. The Others segment is engaged in the
manufacturing, sale and lease of construction works related materials and
equipment, as well as the operation of welfare facilities. As of December 31,
2012, the Company had 30 subsidiaries and seven associated companies. For the
three months ended 31 March 2013, FUKUDA CORPORATION revenues increased 2% to
Y28.19B. Net income applicable to common stockholders decreased 12% to Y1.21B.
Revenues reflect Construction Project segment increase of 1% to Y27.26B, Real Estate
Business segment increase of 37% to Y797M. Net income was offset by Real Estate
Business segment income decrease of 13% to Y66M, Other Businesses segment
income decrease of 22% to Y25M.
Industry
Industry Construction Services
ANZSIC 2006: 3020 -
Non-Residential Building Construction
NACE 2002: 4521 - General
construction of buildings and civil engineering works
NAICS 2002: 23622 - Commercial
and Institutional Building Construction
UK SIC 2003: 45212 -
Construction of domestic buildings
UK SIC 2007: 41202 -
Construction of domestic buildings
US SIC 1987: 1542 - General
Contractors-Nonresidential Buildings, Other than Industrial Buildings and
Warehouses
Key Executives
|
Name |
Title |
|
Toyohiko Ohta |
President, Executive President, Representative Director |
|
Makoto Takahashi |
Senior Executive Officer, Director of Planning Sales |
|
Takeshi Yamamoto |
Executive Officer, Director of Human Resources & General Affairs |
|
Satoru Iwakawa |
Executive Officer |
|
Katsuyuki Fukuda |
Chairman of the Board, Chairman of the Executive Board, Representative
Director |
Significant
Developments
|
* number of significant developments within the last 12 months
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
Corporate Overview
Location
3-10 Ichibanboridori-cho
3-10, Ichibanboridori-cho, Chuo-ku
Niigata-Shi, 951-8668
Japan
Tel: 81-25-2669111
Fax: 81-25-2665591
Web: www.fkd.co.jp
Quote Symbol - Exchange
1899 - Tokyo Stock
Exchange
Sales JPY(mil): 111,431.0
Assets JPY(mil): 94,412.0
Employees: 1,684
Fiscal Year End: 31-Dec-2012
Industry: Construction
Services
Incorporation Date: 29-Dec-1927
Company Type: Public
Parent
Quoted Status: Quoted
President,
Executive President, Representative Director:
Toyohiko Ohta
Industry Codes
ANZSIC 2006 Codes:
3020 - Non-Residential Building Construction
6711 - Residential Property Operators
2462 - Mining and Construction Machinery Manufacturing
6639 - Other Goods and Equipment Rental and Hiring Not Elsewhere
Classified
3019 - Other Residential Building Construction
6712 - Non-Residential Property Operators
NACE 2002 Codes:
4521 - General construction of buildings and civil engineering
works
7134 - Renting of other machinery and equipment not elsewhere
classified
2952 - Manufacture of machinery for mining, quarrying and
construction
7020 - Letting of own property
NAICS 2002 Codes:
23622 - Commercial and Institutional Building Construction
532490 - Other Commercial and Industrial Machinery and Equipment
Rental and Leasing
236116 - New Multifamily Housing Construction (except Operative
Builders)
333120 - Construction Machinery Manufacturing
531120 - Lessors of Nonresidential Buildings (except Miniwarehouses)
236210 - Industrial Building Construction
531110 - Lessors of Residential Buildings and Dwellings
US SIC 1987:
1542 - General Contractors-Nonresidential Buildings, Other than
Industrial Buildings and Warehouses
6512 - Operators of Nonresidential Buildings
1522 - General Contractors-Residential Buildings, Other Than
Single-Family
6513 - Operators or Apartment Buildings
1541 - General Contractors-Industrial Buildings and Warehouses
7359 - Equipment Rental and Leasing, Not Elsewhere Classified
3531 - Construction Machinery and Equipment
UK SIC 2003:
45212 - Construction of domestic buildings
70209 - Other letting of own property
2952 - Manufacture of machinery for mining, quarrying and construction
7134 - Renting of other machinery and equipment not elsewhere
classified
UK SIC 2007:
41202 - Construction of domestic buildings
7739 - Renting and leasing of other machinery, equipment and
tangible goods n.e.c.
2892 - Manufacture of machinery for mining, quarrying and
construction
68209 - Letting and operating of own or leased real estate (other
than Housing Association real estate and conference and exhibition services)
n.e.c.
Business
Description
FUKUDA CORPORATION
is mainly engaged in the construction business and the real estate business.
The Company has three business segments. The Construction segment is mainly
engaged in the contract and construction of construction works along with its
subsidiaries and associated companies, as well as the manufacturing, sale and
lease of construction works related materials and equipment. The Real Estate
segment is engaged in the development, lease, purchase and sale of real estate.
The Others segment is engaged in the manufacturing, sale and lease of
construction works related materials and equipment, as well as the operation of
welfare facilities. As of December 31, 2012, the Company had 30 subsidiaries
and seven associated companies. For the three months ended 31 March 2013,
FUKUDA CORPORATION revenues increased 2% to Y28.19B. Net income applicable to
common stockholders decreased 12% to Y1.21B. Revenues reflect Construction
Project segment increase of 1% to Y27.26B, Real Estate Business segment
increase of 37% to Y797M. Net income was offset by Real Estate Business segment
income decrease of 13% to Y66M, Other Businesses segment income decrease of 22%
to Y25M.
More Business Descriptions
General
construction company with subsidiaries involved in road construction and real
estate
Full Spectrum Solar
(Full Spectrum) is a renewable energy company, based in the US. The company
designs, develops and installs grid connected photovoltaic and solar thermal
systems. Its services include installation, consultation, repair, and site
assessments of solar energy systems. The company’s projects include Yahara
River View Apartments, Porchlight's Pheasant Ridge Apartments, Troy Gardens
Co-housing, Family Centers, and Williamson Street Grocery Cooperative in
Madison, Dr. Wesley L. Scott Senior Living Community in Milwaukee, Gund Brewery
Loft Apartments in LaCrosse, Evansville Community Pool in Evansville and
Dominican Eco-Justice Center in Racine. Full Spectrum is headquartered in
Madison, Wisconsin, the US.The company reported revenues of (Yen) JPY
103,656.00 million during the fiscal year ended December 2011, a decrease of
8.65% from 2010. The operating loss of the company was JPY 295.00 million
during the fiscal year 2011, as against an operating income of JPY 1,086.00
million during 2010. The net loss of the company was JPY 237.00 million during
the fiscal year 2011, as against a net profit of JPY 921.00 million during
2010.
Other Heavy and Civil Engineering Construction
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Corporate Family |
Corporate
Structure News: |
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FUKUDA
CORPORATION |
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FUKUDA CORPORATION |
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Company Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
FUKUDA CORPORATION |
Parent |
Niigata-Shi |
Japan |
Construction Services |
1,396.4 |
1,684 |
|
|
Fukuda Road Construction
Co.,Ltd. |
Subsidiary |
Niigata, Niigata |
Japan |
Construction Services |
376.6 |
|
|
|
Kowa, K.K. |
Subsidiary |
Niigata, Niigata |
Japan |
Construction Services |
113.6 |
|
|
|
Rex, K.K. |
Subsidiary |
Niigata, Niigata |
Japan |
Construction Services |
56.9 |
|
|
Competitors Report
|
Company
Name |
Location |
Employees |
Ownership |
|
DAIBIRU CORPORATION |
Osaka-Shi, Japan |
2,085 |
Public |
|
Daiwa House Industry Co Ltd |
Osaka-Shi, Japan |
27,130 |
Public |
|
ES-CON JAPAN Ltd. |
Chiyoda-Ku, Japan |
54 |
Public |
|
Nishimatsu Construction Co.,
Ltd. |
Minato-Ku, Japan |
2,560 |
Public |
Executive report
|
Board
of Directors |
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Chairman of the Board, Chairman of the Executive
Board, Representative Director |
Chairman |
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Executive Officer, Director of Administration,
Director |
Director/Board Member |
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Executive Officer, Director of
Construction, Director |
Director/Board Member |
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Executive Officer, Director |
Director/Board Member |
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President, Executive President,
Representative Director |
Director/Board Member |
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Executive Vice President, Manager of Tokyo
Main Store, Representative Director |
Director/Board Member |
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Executive Officer, Manager of Tohoku
Store, Director |
Director/Board Member |
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Executive Officer, Director of Civil
Engineering, Director |
Director/Board Member |
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Executives |
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President, Executive President,
Representative Director |
President |
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Executive Officer, Director of
Administration, Director |
Division Head Executive |
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Executive Officer, Director of
Construction, Director |
Division Head Executive |
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Executive Officer, Director of Civil Engineering
in Tokyo Main Store, Director of Safety & Environment in Civil
Engineering Unit in Tokyo Main Store |
Division Head Executive |
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Executive Officer, Director |
Division Head Executive |
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Executive Officer, Assistant Manager of
Niigata Main Store |
Division Head Executive |
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Managing Executive Officer, Manager of
Niigata Main Store |
Division Head Executive |
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Senior Executive Officer, Director of
Business Planning |
Division Head Executive |
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Executive Officer, Assistant Manager of
Tokyo Main Store |
Division Head Executive |
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Senior Executive Officer, Director of
Planning Sales |
Division Head Executive |
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|||||
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Executive Officer, Director of Civil
Engineering in Niigata Main Store, Director of Safety & Environment in
Civil Engineering Unit in Niigata Main Store |
Division Head Executive |
|
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|
Senior Executive Officer, Director of Development
Business |
Division Head Executive |
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Executive Officer, Manager of Tohoku
Store, Director |
Division Head Executive |
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Executive Officer, Director of Civil
Engineering, Director |
Division Head Executive |
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Executive Officer, Director of Human
Resources & General Affairs |
Division Head Executive |
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Executive Officer, Manager of Osaka Office |
Division Head Executive |
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Executive Officer |
Other |
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Executive Officer |
Other |
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Significant Developments
FUKUDA CORP Announces Dividend Payment Feb 22, 2013
FUKUDA CORP announced that it has decided to pay a dividend of JPY 4.00 per share (JPY 3.00 per share of a common dividend and JPY 1.00 per share of a bonus dividend), or JPY 178 million in total, in line with the latest dividend forecast of JPY 4.00 per share, to all the shareholders as a record of December 31, 2012, effective March 29, 2013.
FUKUDA CORP Raises Year-end Dividend Forecast for FY 2012 Feb 12, 2013
FUKUDA CORP announced that it has resolved to distribute a bonus dividend of JPY 1 per share in commemoration of the 110th anniversary of its foundation. Therefore, the Company has amended its year-end dividend from JPY 3 per share, which was announced on November 9, 2012, to JPY 4 per share (JPY 3 per share of a common dividend and JPY 1 per share of a bonus dividend), for the fiscal year ended December 2012.
FUKUDA CORP Raises Full-year Consolidated Outlook for FY 2012 Nov 09, 2012
FUKUDA CORP announced that it has raised its full-year consolidated outlook for revenue from JPY 101,000 million to JPY 111,000 million, operating profit from JPY 1,400 million to JPY 1,900 million, ordinary profit from JPY 1,200 million to JPY 2,000 million, net profit from JPY 1,000 million to JPY 1,800 million, and earnings per share from JPY 22.40 to JPY 40.05, for the fiscal year ending December 31, 2012. The Company raised its full-year consolidated outlook mainly due to the increase in orders, cost reduction and extraordinary profit caused by acquisition of subsidiary's shares.
Annual Income Statement
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 |
Ernst &
Young ShinNihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
1,396.4 |
1,300.6 |
1,292.5 |
1,413.3 |
1,554.2 |
|
Revenue |
1,396.4 |
1,300.6 |
1,292.5 |
1,413.3 |
1,554.2 |
|
Total Revenue |
1,396.4 |
1,300.6 |
1,292.5 |
1,413.3 |
1,554.2 |
|
|
|
|
|
|
|
|
Cost of Revenue |
1,276.7 |
1,206.7 |
1,194.1 |
1,289.5 |
1,464.5 |
|
Cost of Revenue, Total |
1,276.7 |
1,206.7 |
1,194.1 |
1,289.5 |
1,464.5 |
|
Gross Profit |
119.8 |
93.9 |
98.4 |
123.8 |
89.7 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
41.6 |
45.6 |
43.2 |
49.3 |
94.2 |
|
Labor & Related Expense |
41.6 |
39.7 |
34.1 |
36.5 |
37.8 |
|
Total Selling/General/Administrative Expenses |
83.2 |
85.3 |
77.3 |
85.8 |
132.0 |
|
Research & Development |
1.3 |
1.3 |
1.3 |
1.3 |
1.0 |
|
Amortization of Acquisition Costs |
-2.6 |
-2.9 |
-2.6 |
-1.9 |
31.3 |
|
Depreciation/Amortization |
-2.6 |
-2.9 |
-2.6 |
-1.9 |
31.3 |
|
Impairment-Assets Held for Use |
5.8 |
2.6 |
1.4 |
46.8 |
22.8 |
|
Impairment-Assets Held for Sale |
0.0 |
1.1 |
4.6 |
2.1 |
1.8 |
|
Other Unusual Expense (Income) |
-3.7 |
10.2 |
4.0 |
14.0 |
41.1 |
|
Unusual Expense (Income) |
2.1 |
13.8 |
10.0 |
62.8 |
65.7 |
|
Other Operating Expense |
0.0 |
- |
- |
- |
- |
|
Other Operating Expenses, Total |
0.0 |
- |
- |
- |
- |
|
Total Operating Expense |
1,360.7 |
1,304.3 |
1,280.1 |
1,437.5 |
1,694.5 |
|
|
|
|
|
|
|
|
Operating Income |
35.8 |
-3.7 |
12.4 |
-24.2 |
-140.3 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-4.2 |
-5.4 |
-6.6 |
-9.0 |
-8.6 |
|
Interest Expense, Net Non-Operating |
-4.2 |
-5.4 |
-6.6 |
-9.0 |
-8.6 |
|
Interest Income -
Non-Operating |
0.4 |
0.4 |
0.8 |
1.1 |
1.7 |
|
Investment Income -
Non-Operating |
2.0 |
1.2 |
2.0 |
13.4 |
70.8 |
|
Interest/Investment Income - Non-Operating |
2.4 |
1.5 |
2.8 |
14.5 |
72.5 |
|
Interest Income (Expense) - Net Non-Operating Total |
-1.8 |
-3.9 |
-3.8 |
5.5 |
63.9 |
|
Gain (Loss) on Sale of Assets |
1.8 |
3.3 |
1.1 |
1.7 |
2.5 |
|
Other Non-Operating Income (Expense) |
0.4 |
0.0 |
0.8 |
-1.3 |
-4.6 |
|
Other, Net |
0.4 |
0.0 |
0.8 |
-1.3 |
-4.6 |
|
Income Before Tax |
36.1 |
-4.3 |
10.4 |
-18.2 |
-78.6 |
|
|
|
|
|
|
|
|
Total Income Tax |
1.5 |
-1.6 |
0.1 |
11.5 |
20.4 |
|
Income After Tax |
34.6 |
-2.6 |
10.3 |
-29.6 |
-99.0 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.4 |
-0.4 |
0.2 |
-2.4 |
1.5 |
|
Net Income Before Extraord Items |
34.2 |
-3.0 |
10.5 |
-32.1 |
-97.5 |
|
Net Income |
34.2 |
-3.0 |
10.5 |
-32.1 |
-97.5 |
|
|
|
|
|
|
|
|
Miscellaneous Earnings Adjustment |
- |
0.0 |
- |
-0.1 |
-0.1 |
|
Total Adjustments to Net Income |
- |
0.0 |
- |
-0.1 |
-0.1 |
|
Income Available to Common Excl Extraord Items |
34.2 |
-2.9 |
10.5 |
-32.1 |
-97.5 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
34.2 |
-2.9 |
10.5 |
-32.1 |
-97.5 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
44.6 |
44.6 |
44.6 |
44.7 |
44.7 |
|
Basic EPS Excl Extraord Items |
0.77 |
-0.07 |
0.23 |
-0.72 |
-2.18 |
|
Basic/Primary EPS Incl Extraord Items |
0.77 |
-0.07 |
0.23 |
-0.72 |
-2.18 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
34.2 |
-2.9 |
10.5 |
-32.1 |
-97.5 |
|
Diluted Weighted Average Shares |
44.6 |
44.6 |
44.6 |
44.7 |
44.7 |
|
Diluted EPS Excl Extraord Items |
0.77 |
-0.07 |
0.23 |
-0.72 |
-2.18 |
|
Diluted EPS Incl Extraord Items |
0.77 |
-0.07 |
0.23 |
-0.72 |
-2.18 |
|
Dividends per Share - Common Stock Primary Issue |
0.03 |
0.04 |
0.03 |
0.03 |
0.00 |
|
Gross Dividends - Common Stock |
2.2 |
1.7 |
1.5 |
1.4 |
0.0 |
|
Interest Expense, Supplemental |
4.2 |
5.4 |
6.6 |
9.0 |
8.6 |
|
Depreciation, Supplemental |
14.3 |
14.6 |
13.8 |
11.9 |
15.1 |
|
Total Special Items |
-2.3 |
7.4 |
6.4 |
59.2 |
94.3 |
|
Normalized Income Before Tax |
33.8 |
3.2 |
16.8 |
41.0 |
15.7 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
3.7 |
0.1 |
21.4 |
22.1 |
|
Inc Tax Ex Impact of Sp Items |
1.5 |
2.0 |
0.2 |
32.9 |
42.5 |
|
Normalized Income After Tax |
32.3 |
1.1 |
16.6 |
8.2 |
-26.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
31.9 |
0.8 |
16.8 |
5.7 |
-25.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.71 |
0.02 |
0.38 |
0.13 |
-0.57 |
|
Diluted Normalized EPS |
0.71 |
0.02 |
0.38 |
0.13 |
-0.57 |
|
Amort of Acquisition Costs, Supplemental |
-2.6 |
-3.1 |
-2.6 |
-1.9 |
31.1 |
|
Research & Development Exp, Supplemental |
1.3 |
1.3 |
1.3 |
1.3 |
1.0 |
|
Reported Operating Profit |
35.3 |
7.3 |
19.8 |
48.6 |
-32.3 |
|
Reported Ordinary Profit |
36.4 |
6.3 |
19.2 |
37.6 |
-43.3 |
|
Normalized EBIT |
37.9 |
10.1 |
22.4 |
38.7 |
-74.7 |
|
Normalized EBITDA |
49.5 |
21.7 |
33.6 |
48.7 |
-28.5 |
|
Current Tax - Total |
3.1 |
- |
- |
- |
- |
|
Current Tax - Total |
3.1 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-1.6 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-1.6 |
- |
- |
- |
- |
|
Income Tax - Total |
1.5 |
- |
- |
- |
- |
|
Interest Cost - Domestic |
1.6 |
2.4 |
2.2 |
2.4 |
2.4 |
|
Service Cost - Domestic |
4.2 |
3.7 |
4.1 |
4.4 |
4.3 |
|
Expected Return on Assets - Domestic |
-1.2 |
-1.3 |
-1.1 |
-1.1 |
-1.5 |
|
Actuarial Gains and Losses - Domestic |
3.9 |
3.8 |
3.2 |
3.2 |
1.3 |
|
Domestic Pension Plan Expense |
8.4 |
8.7 |
8.2 |
8.9 |
6.5 |
|
Total Pension Expense |
8.4 |
8.7 |
8.2 |
8.9 |
6.5 |
|
Discount Rate - Domestic |
1.50% |
1.50% |
2.50% |
2.50% |
2.50% |
|
Expected Rate of Return - Domestic |
2.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Total Plan Interest Cost |
1.6 |
2.4 |
2.2 |
2.4 |
2.4 |
|
Total Plan Service Cost |
4.2 |
3.7 |
4.1 |
4.4 |
4.3 |
|
Total Plan Expected Return |
-1.2 |
-1.3 |
-1.1 |
-1.1 |
-1.5 |
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 |
Ernst &
Young ShinNihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash & Equivalents |
192.3 |
200.4 |
151.1 |
184.4 |
192.3 |
|
Short Term Investments |
0.2 |
0.3 |
0.2 |
0.2 |
0.2 |
|
Cash and Short Term Investments |
192.6 |
200.6 |
151.4 |
184.6 |
192.5 |
|
Accounts Receivable -
Trade, Gross |
384.1 |
401.6 |
402.1 |
381.7 |
521.1 |
|
Provision for Doubtful
Accounts |
-6.2 |
-24.8 |
-37.2 |
-43.8 |
-61.0 |
|
Trade Accounts Receivable - Net |
377.9 |
376.8 |
364.9 |
337.8 |
460.1 |
|
Total Receivables, Net |
377.9 |
376.8 |
364.9 |
337.8 |
460.1 |
|
Inventories - Work In Progress |
70.2 |
63.3 |
78.3 |
188.7 |
261.7 |
|
Inventories - Other |
17.5 |
26.7 |
70.9 |
40.2 |
60.1 |
|
Total Inventory |
87.7 |
90.0 |
149.2 |
228.9 |
321.8 |
|
Deferred Income Tax - Current Asset |
3.7 |
4.8 |
0.2 |
0.5 |
7.1 |
|
Other Current Assets |
44.7 |
61.2 |
56.9 |
47.3 |
91.1 |
|
Other Current Assets, Total |
48.5 |
65.9 |
57.1 |
47.9 |
98.2 |
|
Total Current Assets |
706.7 |
733.3 |
722.6 |
799.3 |
1,072.7 |
|
|
|
|
|
|
|
|
Buildings |
223.9 |
263.5 |
268.1 |
244.0 |
278.7 |
|
Land/Improvements |
174.0 |
206.7 |
209.4 |
190.7 |
214.2 |
|
Machinery/Equipment |
140.0 |
157.9 |
151.9 |
140.1 |
170.8 |
|
Construction in
Progress |
0.0 |
0.2 |
0.0 |
0.1 |
0.2 |
|
Other
Property/Plant/Equipment |
5.8 |
4.8 |
1.0 |
0.6 |
0.0 |
|
Property/Plant/Equipment - Gross |
543.6 |
633.1 |
630.5 |
575.5 |
663.8 |
|
Accumulated Depreciation |
-271.1 |
-313.3 |
-302.0 |
-270.9 |
-310.8 |
|
Property/Plant/Equipment - Net |
272.6 |
319.8 |
328.5 |
304.7 |
353.0 |
|
Goodwill, Net |
- |
- |
- |
- |
0.0 |
|
Intangibles, Net |
9.4 |
11.3 |
11.6 |
10.7 |
19.8 |
|
LT Investment - Affiliate Companies |
24.2 |
25.9 |
- |
- |
- |
|
LT Investments - Other |
66.9 |
71.9 |
96.5 |
88.8 |
105.1 |
|
Long Term Investments |
91.1 |
97.9 |
96.5 |
88.8 |
105.1 |
|
Note Receivable - Long Term |
15.6 |
17.9 |
22.5 |
20.3 |
31.9 |
|
Deferred Income Tax - Long Term Asset |
1.4 |
1.5 |
2.0 |
2.9 |
5.7 |
|
Other Long Term Assets |
2.8 |
8.4 |
4.8 |
1.5 |
6.9 |
|
Other Long Term Assets, Total |
4.2 |
9.9 |
6.8 |
4.4 |
12.6 |
|
Total Assets |
1,099.5 |
1,190.2 |
1,188.4 |
1,228.1 |
1,595.0 |
|
|
|
|
|
|
|
|
Accounts Payable |
300.5 |
282.4 |
255.7 |
226.0 |
434.9 |
|
Accrued Expenses |
2.1 |
0.4 |
1.2 |
1.1 |
1.0 |
|
Notes Payable/Short Term Debt |
255.1 |
331.6 |
362.8 |
395.3 |
494.1 |
|
Current Portion - Long Term Debt/Capital Leases |
- |
- |
10.4 |
53.9 |
- |
|
Customer Advances |
65.6 |
61.6 |
63.0 |
120.9 |
99.4 |
|
Income Taxes Payable |
2.3 |
3.6 |
1.7 |
4.8 |
2.2 |
|
Deferred Income Tax - Current Liability |
- |
- |
- |
0.0 |
0.1 |
|
Other Current Liabilities |
45.1 |
47.6 |
39.3 |
43.7 |
42.9 |
|
Other Current liabilities, Total |
113.0 |
112.8 |
104.1 |
169.4 |
144.6 |
|
Total Current Liabilities |
670.6 |
727.3 |
734.2 |
845.7 |
1,074.6 |
|
|
|
|
|
|
|
|
Long Term Debt |
3.4 |
18.6 |
30.0 |
16.3 |
66.8 |
|
Capital Lease Obligations |
- |
- |
- |
0.5 |
- |
|
Total Long Term Debt |
3.4 |
18.6 |
30.0 |
16.8 |
66.8 |
|
Total Debt |
258.6 |
350.2 |
403.2 |
465.9 |
560.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
15.3 |
18.8 |
20.8 |
19.6 |
23.3 |
|
Deferred Income Tax |
15.3 |
18.8 |
20.8 |
19.6 |
23.3 |
|
Minority Interest |
2.9 |
6.9 |
6.7 |
11.6 |
37.1 |
|
Reserves |
- |
- |
- |
0.0 |
1.3 |
|
Pension Benefits - Underfunded |
32.7 |
36.4 |
34.3 |
30.2 |
42.9 |
|
Other Long Term Liabilities |
37.6 |
41.9 |
37.4 |
31.0 |
25.5 |
|
Other Liabilities, Total |
70.3 |
78.3 |
71.7 |
61.2 |
69.7 |
|
Total Liabilities |
762.6 |
849.9 |
863.3 |
954.8 |
1,271.5 |
|
|
|
|
|
|
|
|
Common Stock |
60.1 |
67.0 |
63.6 |
55.4 |
56.9 |
|
Common Stock |
60.1 |
67.0 |
63.6 |
55.4 |
56.9 |
|
Additional Paid-In Capital |
69.8 |
77.9 |
73.9 |
64.4 |
66.1 |
|
Retained Earnings (Accumulated Deficit) |
213.3 |
204.1 |
196.8 |
166.8 |
227.7 |
|
Treasury Stock - Common |
-1.4 |
-1.5 |
-1.4 |
-1.2 |
-1.3 |
|
Unrealized Gain (Loss) |
-4.9 |
-7.3 |
-7.9 |
-12.0 |
-26.0 |
|
Total Equity |
336.9 |
340.3 |
325.1 |
273.4 |
323.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,099.5 |
1,190.2 |
1,188.4 |
1,228.2 |
1,595.0 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
44.6 |
44.6 |
44.6 |
44.6 |
44.7 |
|
Total Common Shares Outstanding |
44.6 |
44.6 |
44.6 |
44.6 |
44.7 |
|
Treasury Shares - Common Stock Primary Issue |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Employees |
1,684 |
1,702 |
1,728 |
1,801 |
2,208 |
|
Number of Common Shareholders |
2,364 |
2,714 |
2,605 |
2,566 |
2,644 |
|
Deferred Revenue - Current |
65.6 |
61.6 |
63.0 |
120.9 |
99.4 |
|
Total Long Term Debt, Supplemental |
5.2 |
21.5 |
40.4 |
70.0 |
138.5 |
|
Long Term Debt Maturing within 1 Year |
1.7 |
2.9 |
10.4 |
53.7 |
71.7 |
|
Long Term Debt Maturing in Year 2 |
1.3 |
14.7 |
2.8 |
9.1 |
27.4 |
|
Long Term Debt Maturing in Year 3 |
0.6 |
0.7 |
23.6 |
2.4 |
32.9 |
|
Long Term Debt Maturing in Year 4 |
0.4 |
0.7 |
0.7 |
1.6 |
0.1 |
|
Long Term Debt Maturing in Year 5 |
0.4 |
0.7 |
0.7 |
0.6 |
6.4 |
|
Long Term Debt Maturing in 2-3 Years |
1.9 |
15.4 |
26.3 |
11.5 |
60.3 |
|
Long Term Debt Maturing in 4-5 Years |
0.8 |
1.4 |
1.3 |
2.2 |
6.6 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.7 |
1.7 |
2.3 |
2.6 |
0.0 |
|
Total Capital Leases, Supplemental |
4.5 |
4.3 |
1.0 |
0.7 |
- |
|
Capital Lease Payments Due in Year 1 |
1.2 |
1.0 |
0.3 |
0.2 |
- |
|
Capital Lease Payments Due in Year 2 |
2.0 |
2.2 |
0.3 |
0.2 |
- |
|
Capital Lease Payments Due in Year 3 |
0.7 |
0.6 |
0.2 |
0.2 |
- |
|
Capital Lease Payments Due in Year 4 |
0.5 |
0.4 |
0.2 |
0.1 |
- |
|
Capital Lease Payments Due in Year 5 |
0.1 |
0.2 |
0.0 |
0.0 |
- |
|
Capital Lease Payments Due in 2-3 Years |
2.7 |
2.8 |
0.5 |
0.3 |
- |
|
Capital Lease Payments Due in 4-5 Years |
0.6 |
0.5 |
0.2 |
0.1 |
- |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Pension Obligation - Domestic |
97.9 |
111.4 |
98.2 |
84.7 |
106.2 |
|
Plan Assets - Domestic |
51.6 |
51.7 |
49.5 |
42.1 |
47.0 |
|
Funded Status - Domestic |
-46.2 |
-59.7 |
-48.8 |
-42.6 |
-59.1 |
|
Total Funded Status |
-46.2 |
-59.7 |
-48.8 |
-42.6 |
-59.1 |
|
Discount Rate - Domestic |
1.50% |
1.50% |
2.50% |
2.50% |
2.50% |
|
Expected Rate of Return - Domestic |
2.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Accrued Liabilities - Domestic |
-31.7 |
-35.5 |
-33.3 |
-29.0 |
-37.0 |
|
Other Assets, Net - Domestic |
14.5 |
24.2 |
15.4 |
13.6 |
20.0 |
|
Net Assets Recognized on Balance Sheet |
-17.3 |
-11.3 |
-17.9 |
-15.3 |
-17.0 |
|
Total Plan Obligations |
97.9 |
111.4 |
98.2 |
84.7 |
106.2 |
|
Total Plan Assets |
51.6 |
51.7 |
49.5 |
42.1 |
47.0 |
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 |
Ernst &
Young ShinNihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
36.1 |
-4.2 |
10.4 |
-18.2 |
-78.6 |
|
Depreciation |
14.3 |
14.6 |
13.8 |
11.9 |
15.1 |
|
Depreciation/Depletion |
14.3 |
14.6 |
13.8 |
11.9 |
15.1 |
|
Amortization of Acquisition Costs |
-2.6 |
-3.1 |
-2.6 |
-1.9 |
31.3 |
|
Amortization |
-2.6 |
-3.1 |
-2.6 |
-1.9 |
31.3 |
|
Unusual Items |
-0.4 |
1.5 |
5.2 |
28.8 |
-33.7 |
|
Equity in Net Earnings (Loss) |
-1.1 |
0.0 |
-1.0 |
4.3 |
0.3 |
|
Other Non-Cash Items |
-17.7 |
2.9 |
-5.8 |
-21.0 |
45.3 |
|
Non-Cash Items |
-19.2 |
4.4 |
-1.5 |
12.0 |
11.9 |
|
Accounts Receivable |
-26.1 |
7.8 |
32.6 |
124.7 |
56.5 |
|
Inventories |
-7.6 |
66.6 |
104.9 |
87.9 |
-25.7 |
|
Other Assets |
12.3 |
4.9 |
-4.2 |
18.3 |
-10.3 |
|
Accounts Payable |
51.1 |
12.4 |
-3.5 |
-196.4 |
-28.5 |
|
Accrued Expenses |
1.8 |
-0.8 |
0.0 |
0.1 |
-0.9 |
|
Other Liabilities |
26.2 |
2.1 |
-79.5 |
47.9 |
-49.7 |
|
Other Operating Cash Flow |
-14.3 |
-7.0 |
-6.3 |
-5.2 |
-19.3 |
|
Changes in Working Capital |
43.4 |
86.0 |
44.1 |
77.4 |
-78.0 |
|
Cash from Operating Activities |
71.9 |
97.7 |
64.3 |
81.3 |
-98.3 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-22.3 |
-2.9 |
-4.9 |
-39.7 |
-27.5 |
|
Purchase/Acquisition of Intangibles |
-0.2 |
-0.2 |
-0.4 |
-1.4 |
-4.1 |
|
Capital Expenditures |
-22.5 |
-3.1 |
-5.3 |
-41.1 |
-31.6 |
|
Sale of Business |
0.0 |
0.5 |
0.0 |
- |
- |
|
Sale of Fixed Assets |
22.6 |
19.1 |
11.7 |
2.7 |
9.1 |
|
Sale/Maturity of Investment |
3.6 |
4.5 |
9.7 |
36.8 |
43.3 |
|
Investment, Net |
0.8 |
-0.4 |
0.7 |
22.6 |
-16.9 |
|
Purchase of Investments |
-1.6 |
-2.8 |
-10.0 |
-15.2 |
-118.0 |
|
Other Investing Cash Flow |
3.3 |
-1.3 |
2.7 |
-9.5 |
-32.4 |
|
Other Investing Cash Flow Items, Total |
28.6 |
19.7 |
14.8 |
37.4 |
-115.0 |
|
Cash from Investing Activities |
6.1 |
16.6 |
9.5 |
-3.7 |
-146.6 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-0.2 |
-0.2 |
-5.8 |
-0.1 |
-0.1 |
|
Financing Cash Flow Items |
-0.2 |
-0.2 |
-5.8 |
-0.1 |
-0.1 |
|
Cash Dividends Paid - Common |
-1.8 |
-1.7 |
-1.5 |
0.0 |
-3.9 |
|
Total Cash Dividends Paid |
-1.8 |
-1.7 |
-1.5 |
0.0 |
-3.9 |
|
Sale/Issuance of
Common |
- |
- |
0.0 |
0.0 |
0.1 |
|
Repurchase/Retirement
of Common |
0.0 |
0.0 |
0.0 |
-0.1 |
-0.3 |
|
Common Stock, Net |
0.0 |
0.0 |
0.0 |
-0.1 |
-0.2 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
0.0 |
0.0 |
-0.1 |
-0.2 |
|
Short Term Debt, Net |
-44.3 |
-51.8 |
-83.8 |
-15.9 |
72.2 |
|
Long Term Debt Issued |
- |
0.0 |
26.2 |
0.0 |
168.6 |
|
Long Term Debt
Reduction |
-16.3 |
-21.1 |
-63.5 |
-70.4 |
-42.9 |
|
Long Term Debt, Net |
-16.3 |
-21.1 |
-37.3 |
-70.4 |
125.7 |
|
Issuance (Retirement) of Debt, Net |
-60.6 |
-73.0 |
-121.1 |
-86.3 |
197.9 |
|
Cash from Financing Activities |
-62.6 |
-74.8 |
-128.4 |
-86.5 |
193.7 |
|
|
|
|
|
|
|
|
Net Change in Cash |
15.4 |
39.5 |
-54.7 |
-8.9 |
-51.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
191.8 |
152.5 |
193.1 |
190.0 |
217.9 |
|
Net Cash - Ending Balance |
207.2 |
192.0 |
138.5 |
181.1 |
166.8 |
|
Cash Interest Paid |
4.2 |
5.5 |
6.2 |
8.2 |
9.2 |
|
Cash Taxes Paid |
4.1 |
1.0 |
3.8 |
3.8 |
17.1 |
Annual Income Statement
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 |
Ernst &
Young ShinNihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Construction |
1,260.1 |
1,124.0 |
1,131.4 |
1,224.3 |
1,375.1 |
|
Real Estate |
36.7 |
84.2 |
70.7 |
57.0 |
35.2 |
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Other Businesses |
99.6 |
92.4 |
90.3 |
132.1 |
143.9 |
|
Total Revenue |
1,396.4 |
1,300.6 |
1,292.5 |
1,413.3 |
1,554.2 |
|
|
|
|
|
|
|
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Rounding adjustment Income Statement |
0.0 |
- |
- |
- |
- |
|
Cost of Constr. |
1,164.3 |
1,052.1 |
1,054.1 |
1,115.5 |
1,298.0 |
|
Cost of R.E |
28.4 |
76.0 |
64.3 |
51.8 |
26.6 |
|
Cost of sales on other business |
84.0 |
78.6 |
75.8 |
110.3 |
128.9 |
|
Provision for doubtful accounts-SGA |
-1.9 |
- |
- |
- |
- |
|
Other SGA |
43.5 |
- |
- |
- |
- |
|
Bonuses and Provision for Bonuses - SGA |
0.5 |
- |
- |
- |
- |
|
Employees' salaries and allowances |
38.1 |
36.6 |
31.4 |
33.6 |
37.8 |
|
Retirement benefit cost |
2.9 |
3.0 |
2.7 |
2.8 |
- |
|
Research and Development Expense(in SGA) |
1.3 |
- |
- |
- |
- |
|
R&D expense |
- |
1.3 |
1.3 |
1.3 |
1.0 |
|
Other SGA exp. |
- |
45.6 |
43.2 |
49.3 |
94.2 |
|
Other Unusual Expense (Income) |
0.0 |
- |
- |
- |
- |
|
Gain on negative goodwill |
-3.6 |
- |
- |
- |
- |
|
SP Rev-Doubt.Acct.Allow |
0.0 |
-0.8 |
-0.4 |
-3.7 |
0.0 |
|
SP Rever. rese for direc. retirement |
- |
0.0 |
-0.4 |
0.0 |
- |
|
SP Other Special Gains |
-0.1 |
-0.4 |
-0.3 |
-7.6 |
-4.0 |
|
SP Loss-Adj. to prior yr's profit/loss |
0.0 |
0.1 |
0.0 |
0.3 |
0.1 |
|
SP Retired-Fixed Assets |
0.8 |
0.4 |
0.7 |
1.4 |
3.4 |
|
SP Val.Loss-Invest.Sec. |
0.0 |
1.1 |
4.6 |
2.1 |
1.8 |
|
SP Val.Loss-R.E.-Sale |
- |
- |
0.0 |
11.9 |
11.0 |
|
SP Impairment Loss |
5.0 |
2.1 |
0.7 |
45.4 |
19.4 |
|
SP Lump-sum Amort. of Goodwill |
- |
- |
- |
0.0 |
31.6 |
|
SP Add. amount for employees sp.retire. |
- |
0.0 |
0.6 |
7.5 |
18.6 |
|
SP Val. L on anonymous investment |
- |
- |
- |
0.0 |
18.1 |
|
SP Spec. prov. for doubtful acts |
- |
0.0 |
0.0 |
7.8 |
0.9 |
|
SP Reserve prior directors' retir.bene. |
- |
- |
- |
0.0 |
2.8 |
|
SP Reserve for debts guarantees |
- |
- |
- |
0.0 |
0.6 |
|
SP L on adjt.t for chgs. of acct. asstes |
0.0 |
1.4 |
0.0 |
- |
- |
|
SP Compensation for damage |
0.0 |
9.5 |
2.2 |
0.0 |
- |
|
SP Other Special Losses |
0.0 |
0.4 |
2.3 |
9.7 |
4.0 |
|
NOP Amort. Negative Goodwill |
-2.6 |
-2.9 |
-2.6 |
-1.9 |
-0.3 |
|
Total Operating Expense |
1,360.7 |
1,304.3 |
1,280.1 |
1,437.5 |
1,694.5 |
|
|
|
|
|
|
|
|
SP Sale Gain-Fixed Asst |
2.3 |
6.1 |
2.2 |
2.8 |
3.0 |
|
SP Sale Gain-Invest.Sec |
0.1 |
0.0 |
0.2 |
17.1 |
70.5 |
|
SP Change-Equity Method |
- |
- |
- |
- |
0.0 |
|
SP Sale Loss-Fixed Asst |
-0.5 |
-2.8 |
-1.2 |
-1.1 |
-0.5 |
|
NOP Interest Income |
0.4 |
0.4 |
0.8 |
1.1 |
1.7 |
|
NOP Dividend Income |
0.9 |
1.1 |
0.8 |
0.6 |
0.6 |
|
NOP Gain-Equity Method |
1.1 |
0.0 |
1.0 |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
0.0 |
- |
- |
- |
- |
|
Other |
2.6 |
2.1 |
2.9 |
2.9 |
4.5 |
|
NOP Interest Expense |
-4.2 |
-5.4 |
-6.6 |
-9.0 |
-8.6 |
|
NOP Res-Doubt.Acct.Allow |
- |
- |
0.0 |
-0.2 |
-3.5 |
|
NOP Loss-Equity Method |
- |
- |
0.0 |
-4.3 |
-0.3 |
|
Other(1) |
-2.2 |
-2.1 |
-2.1 |
-4.0 |
-5.7 |
|
Net Income Before Taxes |
36.1 |
-4.3 |
10.4 |
-18.2 |
-78.6 |
|
|
|
|
|
|
|
|
Income taxes-current |
1.5 |
-1.6 |
0.1 |
11.5 |
20.4 |
|
Net Income After Taxes |
34.6 |
-2.6 |
10.3 |
-29.6 |
-99.0 |
|
|
|
|
|
|
|
|
Minority interests in income |
-0.4 |
-0.4 |
0.2 |
-2.4 |
1.5 |
|
Net Income Before Extra. Items |
34.2 |
-3.0 |
10.5 |
-32.1 |
-97.5 |
|
Net Income |
34.2 |
-3.0 |
10.5 |
-32.1 |
-97.5 |
|
|
|
|
|
|
|
|
Earning Adjustment |
- |
0.0 |
- |
-0.1 |
-0.1 |
|
Income Available to Com Excl ExtraOrd |
34.2 |
-2.9 |
10.5 |
-32.1 |
-97.5 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
34.2 |
-2.9 |
10.5 |
-32.1 |
-97.5 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
44.6 |
44.6 |
44.6 |
44.7 |
44.7 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.77 |
-0.07 |
0.23 |
-0.72 |
-2.18 |
|
Basic EPS Including ExtraOrdinary Items |
0.77 |
-0.07 |
0.23 |
-0.72 |
-2.18 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
34.2 |
-2.9 |
10.5 |
-32.1 |
-97.5 |
|
Diluted Weighted Average Shares |
44.6 |
44.6 |
44.6 |
44.7 |
44.7 |
|
Diluted EPS Excluding ExtraOrd Items |
0.77 |
-0.07 |
0.23 |
-0.72 |
-2.18 |
|
Diluted EPS Including ExtraOrd Items |
0.77 |
-0.07 |
0.23 |
-0.72 |
-2.18 |
|
DPS-Common Stock |
0.03 |
0.04 |
0.03 |
0.03 |
0.00 |
|
Gross Dividends - Common Stock |
2.2 |
1.7 |
1.5 |
1.4 |
0.0 |
|
Normalized Income Before Taxes |
33.8 |
3.2 |
16.8 |
41.0 |
15.7 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
1.5 |
2.0 |
0.2 |
32.9 |
42.5 |
|
Normalized Income After Taxes |
32.3 |
1.1 |
16.6 |
8.2 |
-26.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
31.9 |
0.8 |
16.8 |
5.7 |
-25.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.71 |
0.02 |
0.38 |
0.13 |
-0.57 |
|
Diluted Normalized EPS |
0.71 |
0.02 |
0.38 |
0.13 |
-0.57 |
|
R&D Exp. |
1.3 |
1.3 |
1.3 |
1.3 |
1.0 |
|
Interest Expense |
4.2 |
5.4 |
6.6 |
9.0 |
8.6 |
|
BC - Depreciation of Goodwill |
-2.6 |
- |
- |
- |
- |
|
Amort of goodwill |
- |
- |
- |
0.0 |
31.3 |
|
Amort. of negative goodwill |
- |
-3.1 |
-2.6 |
-1.9 |
-0.3 |
|
BC - Depreciation of Fixed Assets |
14.3 |
- |
- |
- |
- |
|
Depreciation |
- |
14.6 |
13.8 |
11.9 |
15.1 |
|
Income taxes-current |
3.1 |
- |
- |
- |
- |
|
Current Tax - Total |
3.1 |
- |
- |
- |
- |
|
Income taxes-deferred |
-1.6 |
- |
- |
- |
- |
|
Deferred Tax - Total |
-1.6 |
- |
- |
- |
- |
|
Income Tax - Total |
1.5 |
- |
- |
- |
- |
|
Reported Operating Profit |
35.3 |
7.3 |
19.8 |
48.6 |
-32.3 |
|
Reported Ordinary Profit |
36.4 |
6.3 |
19.2 |
37.6 |
-43.3 |
|
Service cost |
4.2 |
3.7 |
4.1 |
4.4 |
4.3 |
|
Interest cost |
1.6 |
2.4 |
2.2 |
2.4 |
2.4 |
|
Expected return on plan assets |
-1.2 |
-1.3 |
-1.1 |
-1.1 |
-1.5 |
|
Actuarial gains and losses |
3.9 |
3.8 |
3.2 |
3.2 |
1.3 |
|
Domestic Pension Plan Expense |
8.4 |
8.7 |
8.2 |
8.9 |
6.5 |
|
Total Pension Expense |
8.4 |
8.7 |
8.2 |
8.9 |
6.5 |
|
Discount Rate(MIN)-Domestic |
1.50% |
- |
- |
- |
- |
|
Discount rate |
- |
1.50% |
2.50% |
2.50% |
2.50% |
|
Expected return on assets(MIN)-Domestic |
2.50% |
- |
- |
- |
- |
|
Plan asset expected rate of return |
- |
2.50% |
2.50% |
2.50% |
2.50% |
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 |
Ernst &
Young ShinNihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash and Deposit |
192.3 |
200.4 |
151.1 |
184.4 |
192.3 |
|
Notes receivable, accounts receivable fr |
384.1 |
401.6 |
402.1 |
381.7 |
521.1 |
|
Short-term investment securities |
0.2 |
0.3 |
0.2 |
0.2 |
0.2 |
|
Real Estate-Sale |
14.4 |
23.0 |
67.6 |
40.2 |
60.1 |
|
Cost on uncompeted construction |
30.9 |
45.6 |
59.8 |
117.4 |
171.9 |
|
Const.Prog-R.E. |
39.3 |
17.7 |
18.5 |
71.3 |
89.8 |
|
Other Inventories |
3.2 |
3.7 |
3.3 |
0.0 |
- |
|
Dfrd. Tax Asset |
3.7 |
4.8 |
0.2 |
0.5 |
7.1 |
|
Rounding adjustment Assets |
0.1 |
- |
- |
- |
- |
|
Other Curr.Asset |
44.7 |
61.2 |
56.9 |
47.3 |
91.1 |
|
Doubtful Account |
-6.2 |
-24.8 |
-37.2 |
-43.8 |
-61.0 |
|
Total current assets |
706.7 |
733.3 |
722.6 |
799.3 |
1,072.7 |
|
|
|
|
|
|
|
|
Buildings And Structures Gross |
223.9 |
263.5 |
268.1 |
244.0 |
278.7 |
|
Machinery, vehicles, tools, furniture an |
140.0 |
157.9 |
151.9 |
140.1 |
170.8 |
|
Land |
174.0 |
206.7 |
209.4 |
190.7 |
214.2 |
|
Construction |
0.0 |
0.2 |
0.0 |
0.1 |
0.2 |
|
Other, prop., plants, & equip., gross |
5.8 |
4.8 |
1.0 |
0.6 |
0.0 |
|
Depreciation |
-271.1 |
-313.3 |
-302.0 |
-270.9 |
-310.8 |
|
Goodwill |
- |
- |
- |
- |
0.0 |
|
Other Intangible |
9.4 |
11.3 |
11.6 |
10.7 |
19.8 |
|
Other Investment Securities |
66.9 |
- |
- |
- |
- |
|
Investment Secs. |
- |
71.9 |
96.5 |
88.8 |
105.1 |
|
Stocks Of Unconsolidated Subsidiaries An |
23.0 |
- |
- |
- |
- |
|
Invts in Capital Noncons, Ascd, Affd Cos |
1.2 |
- |
- |
- |
- |
|
Inv. in Affil(stock) |
- |
24.6 |
- |
- |
- |
|
Inv. in Affil(capital) |
- |
1.3 |
- |
- |
- |
|
Long-term loans receivable |
12.2 |
14.0 |
13.5 |
9.4 |
16.9 |
|
Claims provable in bankruptcy, claims pr |
3.4 |
4.0 |
9.0 |
10.9 |
15.0 |
|
Other Other |
22.9 |
- |
- |
- |
- |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other Investments And Other Assets |
0.0 |
- |
- |
- |
- |
|
Allowance for doubtful accounts |
-3.4 |
- |
- |
- |
- |
|
Doubt.Acct-Claim |
- |
-3.9 |
-8.9 |
-10.6 |
-14.7 |
|
Deferred tax assets |
1.4 |
1.5 |
2.0 |
2.9 |
5.7 |
|
Other Assets |
- |
32.1 |
22.1 |
20.0 |
25.3 |
|
Doubtful Account |
-16.8 |
-19.7 |
-8.4 |
-7.9 |
-3.7 |
|
Adjustment |
- |
-0.1 |
- |
- |
- |
|
Other Total property, plant and equipmen |
0.0 |
- |
- |
- |
- |
|
Total Assets |
1,099.5 |
1,190.2 |
1,188.4 |
1,228.1 |
1,595.0 |
|
|
|
|
|
|
|
|
Notes payable, accounts payable for cons |
300.5 |
282.4 |
255.7 |
226.0 |
434.9 |
|
Short-term loans payable |
255.1 |
331.6 |
362.8 |
395.3 |
494.1 |
|
Long Term Borrowings |
- |
- |
10.4 |
53.7 |
- |
|
Lease Liabilities, current |
- |
- |
- |
0.2 |
- |
|
Income Tax Payable |
2.3 |
3.6 |
1.7 |
4.8 |
2.2 |
|
Deferred tax liabilities (current) |
- |
- |
- |
0.0 |
0.1 |
|
Advance received on uncompleted construc |
65.6 |
61.6 |
63.0 |
120.9 |
99.4 |
|
Accrued Bonus |
2.1 |
0.4 |
1.2 |
1.1 |
1.0 |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Reserve-Repair |
0.2 |
0.2 |
0.1 |
0.1 |
0.0 |
|
Res-Compensation |
3.9 |
2.9 |
2.1 |
1.2 |
1.5 |
|
Reserve for Construction Loss |
1.7 |
6.2 |
4.7 |
1.9 |
2.2 |
|
Reserve for contingent loss |
- |
- |
- |
0.0 |
0.5 |
|
Res-Guarant.Loss |
- |
- |
- |
0.0 |
1.9 |
|
Other Cur. Liab. |
39.3 |
38.4 |
32.5 |
40.5 |
36.7 |
|
Adjustment |
- |
- |
- |
- |
0.0 |
|
Total Current Liabilities |
670.6 |
727.3 |
734.2 |
845.7 |
1,074.6 |
|
|
|
|
|
|
|
|
Long-term loans payable |
3.4 |
18.6 |
30.0 |
16.3 |
66.8 |
|
Lease Liabilities |
- |
- |
- |
0.5 |
- |
|
Total Long Term Debt |
3.4 |
18.6 |
30.0 |
16.8 |
66.8 |
|
|
|
|
|
|
|
|
Dfrd. Tax Liab. |
1.2 |
1.2 |
0.8 |
1.3 |
1.8 |
|
Dfrd. Tax Liab. on Revaluation |
14.1 |
17.6 |
20.0 |
18.3 |
21.5 |
|
Reserve For Retirement Benefits |
31.7 |
35.5 |
33.3 |
29.0 |
39.2 |
|
Provision for directors'' retirement ben |
1.0 |
0.9 |
0.9 |
1.2 |
3.8 |
|
Res. for guarantee oblig.(non-current) |
- |
- |
- |
0.0 |
1.3 |
|
Other Long Term Liabilities |
0.0 |
- |
- |
- |
- |
|
Negative goodwill |
3.0 |
6.1 |
8.6 |
9.9 |
1.0 |
|
Deposit-Members |
- |
- |
- |
- |
0.0 |
|
Long Term Payable |
- |
- |
- |
- |
0.0 |
|
Other Liability |
34.6 |
35.8 |
28.9 |
21.1 |
24.5 |
|
Minor. Interest |
2.9 |
6.9 |
6.7 |
11.6 |
37.1 |
|
Total Liabilities |
762.6 |
849.9 |
863.3 |
954.8 |
1,271.5 |
|
|
|
|
|
|
|
|
Common Stock |
60.1 |
67.0 |
63.6 |
55.4 |
56.9 |
|
Capital surplus |
69.8 |
77.9 |
73.9 |
64.4 |
66.1 |
|
Retained Earnings |
213.3 |
204.1 |
196.8 |
166.8 |
227.7 |
|
Treasury Stock |
-1.4 |
-1.5 |
-1.4 |
-1.2 |
-1.3 |
|
Valuation difference on available-for-sa |
2.7 |
1.1 |
0.9 |
-0.5 |
1.2 |
|
Unreal.Loss-Land |
-7.7 |
-8.3 |
-8.8 |
-11.4 |
-27.2 |
|
Total Equity |
336.9 |
340.3 |
325.1 |
273.4 |
323.5 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
1,099.5 |
1,190.2 |
1,188.4 |
1,228.2 |
1,595.0 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
44.6 |
44.6 |
44.6 |
44.6 |
44.7 |
|
Total Common Shares Outstanding |
44.6 |
44.6 |
44.6 |
44.6 |
44.7 |
|
T/S-Common Stock |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Advance received on uncompleted construc |
65.6 |
61.6 |
63.0 |
120.9 |
99.4 |
|
Full-Time Employees |
1,684 |
1,702 |
1,728 |
1,801 |
2,208 |
|
Total Number of Shareholders |
2,364 |
- |
- |
- |
- |
|
Number of Common Shareholders |
- |
2,714 |
2,605 |
2,566 |
2,644 |
|
LT debt maturing within 1 yr |
1.7 |
2.9 |
10.4 |
53.7 |
71.7 |
|
Lns Pble Maturing over a Yr within 2 Yrs |
1.3 |
- |
- |
- |
- |
|
LT debt maturing within 2 yrs |
- |
14.7 |
2.8 |
9.1 |
27.4 |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
0.6 |
- |
- |
- |
- |
|
LT debt maturing within 3 yrs |
- |
0.7 |
23.6 |
2.4 |
32.9 |
|
Lns Pble Maturg over 3 Yrs within 4 Yrs |
0.4 |
- |
- |
- |
- |
|
LT debt maturing within 4 yrs |
- |
0.7 |
0.7 |
1.6 |
0.1 |
|
Lns Pble Maturg over 4 Yrs within 5 Yrs |
0.4 |
- |
- |
- |
- |
|
LT debt maturing within 5 yrs |
- |
0.7 |
0.7 |
0.6 |
6.4 |
|
LT debt remaining |
0.7 |
- |
- |
- |
- |
|
LT debt - remaining maturities |
- |
1.7 |
2.3 |
2.6 |
0.0 |
|
Total Long Term Debt, Supplemental |
5.2 |
21.5 |
40.4 |
70.0 |
138.5 |
|
Capital Lease Payments due in 1 year |
1.2 |
1.0 |
0.3 |
0.2 |
- |
|
Cap Lease Maturg over a Yr within 2 Yrs |
2.0 |
- |
- |
- |
- |
|
Capital Lease Payments due in 2 years |
- |
2.2 |
0.3 |
0.2 |
- |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
0.7 |
- |
- |
- |
- |
|
Capital Lease Payments due in 3 years |
- |
0.6 |
0.2 |
0.2 |
- |
|
Cap Lease Maturg over 3 Yr within 4 Yrs |
0.5 |
- |
- |
- |
- |
|
Capital Lease Payments due in 4 years |
- |
0.4 |
0.2 |
0.1 |
- |
|
Cap Lease Maturg over 4 Yr within 5 Yrs |
0.1 |
- |
- |
- |
- |
|
Capital Lease Payments due in 5 years |
- |
0.2 |
0.0 |
0.0 |
- |
|
Lease remaining |
0.0 |
- |
- |
- |
- |
|
Capital Lease Remaining Maturities |
- |
0.0 |
0.0 |
0.0 |
- |
|
Total Capital Leases, Supplemental |
4.5 |
4.3 |
1.0 |
0.7 |
- |
|
Pension obligation |
97.9 |
111.4 |
98.2 |
84.7 |
106.2 |
|
Fair value of plan asset |
51.6 |
51.7 |
49.5 |
42.1 |
47.0 |
|
Funded status |
-46.2 |
-59.7 |
-48.8 |
-42.6 |
-59.1 |
|
Total Funded Status |
-46.2 |
-59.7 |
-48.8 |
-42.6 |
-59.1 |
|
Discount rate |
1.50% |
1.50% |
2.50% |
2.50% |
2.50% |
|
Expected rate of return |
2.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Unrecognized actuarial gains and losses |
14.5 |
24.2 |
15.4 |
13.6 |
20.0 |
|
Reserve for accrued retirement benefits |
-31.7 |
-35.5 |
-33.3 |
-29.0 |
-37.0 |
|
Net Assets Recognized on Balance Sheet |
-17.3 |
-11.3 |
-17.9 |
-15.3 |
-17.0 |
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 |
Ernst &
Young ShinNihon LLC |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Income (loss) before income taxes |
36.1 |
-4.2 |
10.4 |
-18.2 |
-78.6 |
|
Depreciation |
14.3 |
14.6 |
13.8 |
11.9 |
15.1 |
|
Gain on negative goodwill |
-3.6 |
- |
- |
- |
- |
|
L on adjustment for chgs. of acct. |
0.0 |
1.4 |
0.0 |
- |
- |
|
Impairment Loss |
5.0 |
2.1 |
0.7 |
45.4 |
19.4 |
|
Amort. of goodwill |
- |
- |
- |
0.0 |
31.3 |
|
Amortization of negative goodwill |
-2.6 |
-3.1 |
-2.6 |
-1.9 |
0.0 |
|
Increase (decrease) in allowance for dou |
-18.1 |
-3.1 |
-13.3 |
-12.8 |
38.9 |
|
Increase (decrease) in provision for bon |
1.8 |
-0.8 |
0.0 |
0.1 |
-0.9 |
|
Inc./dec. in prov. for retire. benefits |
-0.1 |
0.4 |
0.1 |
-9.1 |
-6.8 |
|
Increase (decrease) in provision for los |
-4.2 |
1.2 |
2.3 |
-0.2 |
-2.1 |
|
Increase (decrease) in provision for dir |
0.2 |
0.0 |
-0.4 |
-2.4 |
3.4 |
|
Reserve for loss on guarantees |
- |
- |
0.0 |
-1.2 |
0.6 |
|
Increase (decrease) in other provision |
1.5 |
0.7 |
0.7 |
-2.6 |
0.1 |
|
Int. & Div. Income |
-1.2 |
-1.5 |
-1.6 |
-1.7 |
-2.3 |
|
Interest Expense |
4.2 |
5.4 |
6.6 |
9.0 |
8.6 |
|
Loss (gain) on valuation of short-term a |
0.0 |
1.1 |
4.6 |
2.1 |
1.8 |
|
Loss (gain) on sales of short-term and l |
0.0 |
0.3 |
0.9 |
-17.1 |
-70.4 |
|
Val. of anonymous investment |
- |
- |
- |
0.0 |
18.1 |
|
Gains on equity changes |
- |
- |
- |
- |
0.0 |
|
Loss (gain) on sales of property, plant |
-1.8 |
-3.3 |
-1.1 |
-1.6 |
-2.6 |
|
Equity in (earnings) losses of affiliate |
-1.1 |
0.0 |
-1.0 |
4.3 |
0.3 |
|
Decrease (increase) in notes and account |
-26.1 |
7.8 |
32.6 |
124.7 |
56.5 |
|
Decrease (increase) in inventories |
-7.6 |
66.6 |
104.9 |
87.9 |
-25.7 |
|
Decrease (increase) in other assets |
12.3 |
4.9 |
-4.2 |
18.3 |
-10.3 |
|
Increase (decrease) in notes and account |
51.1 |
12.4 |
-3.5 |
-196.4 |
-28.5 |
|
Increase (decrease) in advances received |
9.7 |
3.2 |
-50.0 |
-1.5 |
4.5 |
|
Increase (decrease) in other liabilities |
16.5 |
-1.1 |
-29.5 |
49.4 |
-54.2 |
|
Compensation for damage paid |
-8.1 |
- |
- |
- |
- |
|
Other, net |
0.9 |
1.1 |
2.1 |
5.1 |
4.4 |
|
Int. and Div. Rcvd. |
1.4 |
1.5 |
1.7 |
1.7 |
2.6 |
|
Interest Paid |
-4.2 |
-5.5 |
-6.2 |
-8.2 |
-9.2 |
|
Damage Paid |
- |
-3.1 |
0.0 |
- |
- |
|
Tax Paid |
-4.1 |
-1.5 |
-4.7 |
-3.8 |
-17.1 |
|
Income taxes refund |
0.0 |
0.5 |
0.9 |
0.0 |
- |
|
Consolidation Change |
- |
- |
- |
- |
4.9 |
|
Adjustment |
- |
-0.1 |
- |
- |
- |
|
Cash from Operating Activities |
71.9 |
97.7 |
64.3 |
81.3 |
-98.3 |
|
|
|
|
|
|
|
|
Deposited-Time Depo |
-1.0 |
-1.6 |
-1.6 |
-4.6 |
-3.2 |
|
Withdrawn-Time Depo |
2.0 |
1.5 |
2.8 |
4.3 |
3.5 |
|
Purch-Marketable Sec |
- |
- |
- |
- |
0.0 |
|
Sale-Marketable Sec. |
- |
- |
0.0 |
0.1 |
0.0 |
|
Purchase of property, plant and equipmen |
-22.3 |
-2.9 |
-4.9 |
-39.7 |
-27.5 |
|
Proceeds from sales of property, plant a |
22.6 |
19.1 |
11.7 |
2.7 |
9.1 |
|
Purchase of Intangible Assets |
-0.2 |
-0.2 |
-0.4 |
-1.4 |
-4.1 |
|
Purch-Investment Sec |
-0.1 |
-0.2 |
-0.2 |
-0.4 |
-38.0 |
|
Sale-Investment Sec. |
1.0 |
2.0 |
3.4 |
8.4 |
1.1 |
|
L on liquidation of subs. |
0.0 |
0.5 |
0.0 |
- |
- |
|
Purchase,Closely-held inv'ts,subsid |
- |
0.0 |
-1.1 |
0.0 |
- |
|
Purch-Eqty of Subs. |
-0.1 |
-0.3 |
-0.2 |
-9.5 |
-1.5 |
|
Sale-Eqty. of Subs. |
- |
0.0 |
0.2 |
2.4 |
0.0 |
|
Purchase of subs.' securities |
- |
- |
- |
0.0 |
-37.1 |
|
Net decrease (increase) in short-term lo |
0.8 |
-0.4 |
0.7 |
22.6 |
-16.9 |
|
Payments of long-term loans receivable |
-0.4 |
-0.8 |
-5.7 |
-0.8 |
-38.2 |
|
Collection of long-term loans receivable |
0.6 |
1.0 |
3.3 |
8.4 |
38.7 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Other Investments Payments |
-0.7 |
-1.9 |
-1.3 |
-14.3 |
-40.6 |
|
Income-Other Invests |
3.9 |
0.6 |
4.1 |
4.8 |
8.2 |
|
Payments for sales of sub, secs |
- |
0.0 |
-1.2 |
0.0 |
- |
|
Sale of subs.' securities |
- |
- |
0.0 |
13.2 |
0.0 |
|
Cash from Investing Activities |
6.1 |
16.6 |
9.5 |
-3.7 |
-146.6 |
|
|
|
|
|
|
|
|
Net increase (decrease) in short-term lo |
-44.3 |
-51.8 |
-83.8 |
-15.9 |
72.2 |
|
Issued-LT Debt |
- |
0.0 |
26.2 |
0.0 |
168.6 |
|
Repayment of long-term loans payable |
-15.1 |
-20.4 |
-63.3 |
-70.2 |
-42.9 |
|
Purch-Treasury Stock |
0.0 |
0.0 |
0.0 |
-0.1 |
-0.3 |
|
Sale-Treasury Stock |
- |
- |
0.0 |
0.0 |
0.1 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Paid In by Minority |
- |
- |
- |
- |
0.0 |
|
Dividend Paid |
-1.8 |
-1.7 |
-1.5 |
0.0 |
-3.9 |
|
Repayments to minority shareholders |
- |
0.0 |
-5.6 |
0.0 |
- |
|
Div.Paid to Minority |
-0.2 |
-0.2 |
-0.2 |
-0.1 |
-0.1 |
|
Repayment of finance lease |
-1.2 |
-0.7 |
-0.2 |
-0.1 |
0.0 |
|
Cash from Financing Activities |
-62.6 |
-74.8 |
-128.4 |
-86.5 |
193.7 |
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash |
15.4 |
39.5 |
-54.7 |
-8.9 |
-51.2 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
191.8 |
152.5 |
193.1 |
190.0 |
217.9 |
|
Net Cash - Ending Balance |
207.2 |
192.0 |
138.5 |
181.1 |
166.8 |
|
Cash Interest Paid |
4.2 |
5.5 |
6.2 |
8.2 |
9.2 |
|
Cash Taxes Paid |
4.1 |
1.0 |
3.8 |
3.8 |
17.1 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.45 |
|
UK Pound |
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.77.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.