MIRA INFORM REPORT
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Report Date : |
29.06.2013 |
IDENTIFICATION DETAILS
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Name : |
JUKI CORP
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Registered Office : |
2-11-1, Tsurumaki, Tama-Shi, 206-8551 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
03.09.1943 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
manufacturer
and sale of sewing machines and industrial equipment |
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No. of Employees : |
6498 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
Company name & address
Juki Corp
2-11-1, Tsurumaki
Tama-Shi, 206-8551
Japan
Tel: 81-42-3572211
Fax: 81-3-34892244
Web: www.juki.co.jp
synthesis
Employees: 6,498
Company Type: Public Parent
Corporate Family: 56
Companies
Traded: Tokyo
Stock Exchange: 6440
Incorporation Date:
03-Sep-1943
Auditor: Deloitte Touche Tohmatsu LLC
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2012
Reporting Currency: Japanese
Yen
Annual Sales: 950.3
1
Net Income: (104.5)
Total Assets: 1,285.0 2
Market Value: 191.6 (14-Jun-2013)
Business Description
JUKI CORPORATION is a Japan-based company primarily engaged in the manufacture and sale of sewing machines and industrial equipment. The Company has three business segments. The Sewing Machine segment is engaged in the manufacture and sale of industrial sewing machines including straight stitch sewing machines, safety-stitch sewing machines, zigzag stitch sewing machines and other industrial sewing machines, as well as household sewing machines and related parts. The Industrial Equipment is engaged in the manufacture and sale of chip mounters and related parts. The Others segment is engaged in the manufacture and sale of information technology (IT) equipment and lost-waxes, as well as the management of real estate. As of December 31, 2012, the Company had 37 subsidiaries and five associated companies. For the three months ended 31 March 2013, Juki Corp revenues increased 18% to Y22.62B. Net loss applicable to common stockholders increased from Y722M to Y2.13B. Revenues reflect Sewing Machines segment increase of 30% to Y16.49B. Higher net loss reflects Selling, general and administrative expe increase of 2% to Y5.1B (expense), SP G on Sales of fixed assets decrease of 65% to Y27M (income).
Industry
Industry Miscellaneous Capital Goods
ANZSIC 2006: 2469 - Other
Specialised Machinery and Equipment Manufacturing
NACE 2002: 2924 - Manufacture
of other general purpose machinery not elsewhere classified
NAICS 2002: 333298 - All Other
Industrial Machinery Manufacturing
UK SIC 2003: 2924 - Manufacture
of other general purpose machinery not elsewhere classified
UK SIC 2007: 2829 - Manufacture
of other general-purpose machinery n.e.c.
US SIC 1987: 3559 - Special
Industry Machinery, Not Elsewhere Classified
Key
Executives
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Name |
Title |
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Akira Kiyohara |
President, Representative Director |
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Masahiko Suzuki |
Director of Finance and Accounting |
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Hiroki Konishi |
Corporate Officer |
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Kousuke Inoue |
Corporate Auditor |
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Kazuyuki Nakamura |
Chairman of the Board, Representative Director |
Significant Developments
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* number of significant developments within the last 12 months
Financial
Summary
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Stock Snapshot
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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
2-11-1, Tsurumaki
Tama-Shi, 206-8551
Japan
Tel: 81-42-3572211
Fax: 81-3-34892244
Web: www.juki.co.jp
Quote Symbol - Exchange
6440 - Tokyo Stock
Exchange
Sales JPY(mil): 75,831.0
Assets JPY(mil) :110,341.0
Employees: 6,498
Fiscal Year End: 31-Dec-2012
Industry: Miscellaneous
Capital Goods
Incorporation Date: 03-Sep-1943
Company Type: Public
Parent
Quoted Status: Quoted
President,
Representative Director:
Akira Kiyohara
Industry Codes
ANZSIC 2006 Codes:
2469 - Other Specialised Machinery and Equipment Manufacturing
2463 - Machine Tool and Parts Manufacturing
NACE 2002 Codes:
2924 - Manufacture of other general purpose machinery not
elsewhere classified
2862 - Manufacture of tools
NAICS 2002 Codes:
333298 - All Other Industrial Machinery Manufacturing
333514 - Special Die and Tool, Die Set, Jig, and Fixture
Manufacturing
US SIC 1987:
3559 - Special Industry Machinery, Not Elsewhere Classified
3544 - Special Dies and Tools, Die Sets, Jigs and Fixtures, and
Industrial Molds
UK SIC 2003:
2924 - Manufacture of other general purpose machinery not
elsewhere classified
2862 - Manufacture of tools
UK SIC 2007:
2829 - Manufacture of other general-purpose machinery n.e.c.
2573 - Manufacture of tools
Business
Description
JUKI CORPORATION
is a Japan-based company primarily engaged in the manufacture and sale of
sewing machines and industrial equipment. The Company has three business
segments. The Sewing Machine segment is engaged in the manufacture and sale of
industrial sewing machines including straight stitch sewing machines,
safety-stitch sewing machines, zigzag stitch sewing machines and other
industrial sewing machines, as well as household sewing machines and related
parts. The Industrial Equipment is engaged in the manufacture and sale of chip
mounters and related parts. The Others segment is engaged in the manufacture
and sale of information technology (IT) equipment and lost-waxes, as well as
the management of real estate. As of December 31, 2012, the Company had 37
subsidiaries and five associated companies. For the three months ended 31 March
2013, Juki Corp revenues increased 18% to Y22.62B. Net loss applicable to
common stockholders increased from Y722M to Y2.13B. Revenues reflect Sewing
Machines segment increase of 30% to Y16.49B. Higher net loss reflects Selling,
general and administrative expe increase of 2% to Y5.1B (expense), SP G on
Sales of fixed assets decrease of 65% to Y27M (income).
More Business
Descriptions
Manufacture of industrial sewing machines, apparel systems and
equipment; leather and heavy material equipment; home sewing machines;
electronic assembly and test systems; electronic equipment
Industrial & Consumer Sewing Machines Sales & Mfr
Other Industrial Machinery Manufacturing
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Corporate Family |
Corporate
Structure News: |
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Juki
Corp |
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Juki Corp |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Tama-Shi |
Japan |
Miscellaneous Capital Goods |
950.3 |
6,498 |
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Subsidiary |
Ningbo |
China |
Furniture and Fixtures |
|
460 |
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Subsidiary |
Shanghai, Shanghai |
China |
Miscellaneous Capital Goods |
23.0 |
79 |
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Subsidiary |
Shanghai |
China |
Miscellaneous Capital Goods |
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60 |
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Subsidiary |
Singapore |
Singapore |
Appliance and Tool |
185.4 |
50 |
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Subsidiary |
Chon Buri |
Thailand |
Miscellaneous Capital Goods |
|
50 |
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Subsidiary |
Kwai Fong, New Territories |
Hong Kong |
Miscellaneous Capital Goods |
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40 |
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Subsidiary |
Bengaluru |
India |
Miscellaneous Capital Goods |
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40 |
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Branch |
New Delhi |
India |
Miscellaneous Capital Goods |
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17 |
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Branch |
Tirupur |
India |
Construction - Supplies and Fixtures |
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11 |
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Branch |
Kolkata, West Bengal |
India |
Miscellaneous Capital Goods |
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Subsidiary |
Dhaka |
Bangladesh |
Miscellaneous Capital Goods |
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35 |
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Subsidiary |
Miami, FL |
United States |
Miscellaneous Capital Goods |
4.6 |
32 |
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Subsidiary |
Cairo |
Egypt |
Construction - Supplies and Fixtures |
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30 |
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Subsidiary |
Solothurn |
Switzerland |
Construction - Supplies and Fixtures |
11.3 |
25 |
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Subsidiary |
Nürnberg, Bayern |
Germany |
Miscellaneous Capital Goods |
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19 |
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Subsidiary |
Warsaw |
Poland |
Miscellaneous Capital Goods |
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23 |
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Subsidiary |
Tama, Tokyo |
Japan |
Business Services |
11.0 |
21 |
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Subsidiary |
Chittagong |
Bangladesh |
Construction - Supplies and Fixtures |
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16 |
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Subsidiary |
Morrisville, NC |
United States |
Construction - Supplies and Fixtures |
56.4 |
15 |
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Subsidiary |
Lesquin |
France |
Miscellaneous Capital Goods |
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15 |
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Subsidiary |
Lainate, MI |
Italy |
Miscellaneous Capital Goods |
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10 |
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Subsidiary |
Lainate, Milan |
Italy |
Miscellaneous Capital Goods |
3.3 |
9 |
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Subsidiary |
Gatwick |
United Kingdom |
Miscellaneous Capital Goods |
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5 |
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Subsidiary |
Minsk |
Belarus |
Miscellaneous Capital Goods |
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5 |
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Subsidiary |
Hanoi |
Viet Nam |
Furniture and Fixtures |
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5 |
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Subsidiary |
Istanbul, SP |
Turkey |
Scientific and Technical Instruments |
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2 |
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Subsidiary |
Matsue, Shimane |
Japan |
Miscellaneous Capital Goods |
41.8 |
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Subsidiary |
Mexico, DF |
Mexico |
Miscellaneous Capital Goods |
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Subsidiary |
Bucharest |
Romania |
Scientific and Technical Instruments |
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Subsidiary |
Nagaoka, Niigata |
Japan |
Scientific and Technical Instruments |
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Subsidiary |
Yokote, Akita |
Japan |
Electronic Instruments and Controls |
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Subsidiary |
Hiroshima |
Japan |
Scientific and Technical Instruments |
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Subsidiary |
Matsue, Shimane |
Japan |
Miscellaneous Capital Goods |
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Subsidiary |
Mie |
Japan |
Iron and Steel |
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Subsidiary |
Langfang, Hebei |
China |
Miscellaneous Capital Goods |
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Facility |
Otawara, Tochigi |
Japan |
Miscellaneous Capital Goods |
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Subsidiary |
Kitakata, Fukushima |
Japan |
Miscellaneous Capital Goods |
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Subsidiary |
Chofu, Tokyo |
Japan |
Miscellaneous Capital Goods |
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Subsidiary |
Fuchu |
Japan |
Construction Services |
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Subsidiary |
Otawara, Tochigi |
Japan |
Miscellaneous Capital Goods |
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Subsidiary |
Yokote, Akita |
Japan |
Miscellaneous Capital Goods |
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Subsidiary |
Daisen, Akita |
Japan |
Iron and Steel |
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Subsidiary |
Shanghai |
China |
Miscellaneous Capital Goods |
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JUKI CORPORATION -
ELECTRONIC ASSEMBLY SYSTEMS BUSINESS UNIT - CYUBU NIHON CENTER |
Unit |
Nagoya, Aichi |
Japan |
Miscellaneous Capital Goods |
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Subsidiary |
Cerqueira Cesar, Sao Paulo |
Brazil |
Miscellaneous Capital Goods |
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Subsidiary |
Moscow |
Russian Federation |
Scientific and Technical Instruments |
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Subsidiary |
Dongguan, Guangdong |
China |
Miscellaneous Capital Goods |
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Subsidiary |
Miami, FL |
United States |
Miscellaneous Capital Goods |
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Division |
Miami, FL |
United States |
Miscellaneous Capital Goods |
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Subsidiary |
Kwai Fong |
Hong Kong |
Appliance and Tool |
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Subsidiary |
Qingdao, Shinan District |
China |
Construction - Supplies and Fixtures |
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JUKI CORPORATION -
ELECTRONIC ASSEMBLY SYSTEMS BUSINESS UNIT |
Unit |
Tama, Tokyo |
Japan |
Miscellaneous Capital Goods |
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JUKI CORPORATION -
ELECTRONIC ASSEMBLY SYSTEMS BUSINESS UNIT - NISHI NIHON CENTER |
Unit |
Suita, Osaka |
Japan |
Miscellaneous Capital Goods |
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JUKI CORPORATION -
ELECTRONIC ASSEMBLY SYSTEMS BUSINESS UNIT - SMT TRAINING CENTER |
Unit |
Tama, Tokyo |
Japan |
Schools |
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Subsidiary |
Shanghai |
China |
Miscellaneous Capital Goods |
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Executive report
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Board
of Directors |
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Chairman of the Board, Representative
Director |
Chairman |
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President, Representative Director |
Director/Board Member |
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Managing Executive Officer, Director |
Director/Board Member |
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Managing Executive Officer, Manager of Industrial
Equipment Unit, Director |
Director/Board Member |
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Independent Director |
Director/Board Member |
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Senior Managing Executive Officer,
Representative Director |
Director/Board Member |
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Managing Director |
Director/Board Member |
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Executives |
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President, Representative Director |
President |
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Executive Officer |
Division Head Executive |
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Executive Officer |
Division Head Executive |
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Executive Officer |
Division Head Executive |
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Executive Officer |
Division Head Executive |
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Executive Officer |
Division Head Executive |
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Executive Officer |
Division Head Executive |
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Managing Executive Officer |
Division Head Executive |
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Managing Executive Officer, Director |
Division Head Executive |
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Managing Executive Officer, Manager of Industrial
Equipment Unit, Director |
Division Head Executive |
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Managing Executive Officer |
Division Head Executive |
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Executive Officer |
Division Head Executive |
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Executive Officer |
Division Head Executive |
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Executive Officer |
Division Head Executive |
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Managing Executive Officer |
Division Head Executive |
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Managing Executive Officer |
Division Head Executive |
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Senior Managing Executive Officer,
Representative Director |
Division Head Executive |
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Managing Director |
Managing Director |
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Corporate Officer |
Administration Executive |
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Corporate Officer |
Administration Executive |
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Corporate Auditor |
Accounting Executive |
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Corporate Auditor |
Accounting Executive |
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Corporate Auditor |
Accounting Executive |
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Director of Finance and Accounting |
Investor Relations Executive |
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Significant Developments
JUKI CORP to Transfer Business to New Subsidiary and Announces Business Alliance with Sony Corp May 30, 2013
JUKI CORP announced that it will transfer its industrial equipment business to a subsidiary, which will be established in Tokyo on August 1, 2013, effective August 1, 2013. This is part of the business alliance formed with Sony Corp and Sony EMCS Corporation on May 30, 2013. The new subsidiary will also take over business from Sony Corp and will become a joint venture between JUKI CORP and Sony Corp, in autumn 2013.
JUKI CORP Issues Consolidated Mid-year Outlook and Cancels Mid-year Dividend Forecast for FY 2013 May 08, 2013
JUKI CORP announced the consolidated mid-year outlook for revenue at JPY 47,00 million, operating profit at JPY 1,700 million, ordinary profit at JPY 900 million, net profit (loss) at JPY (800 million) and earning (loss) per share at JPY (6.19) for the fiscal year ending December 31, 2013. The Company also announced the mid-year dividend forecast at JPY 0 per share, for the fiscal year ending December 31, 2013.
JUKI CORP Announces Result of Early-retirement Program; Expects
Extraordinary Loss for Q1 of FY 2013;
Amends Consolidated Full-year Outlook for FY 2013 Mar 13, 2013
JUKI CORP announced that 234 employees have taken up the offer of the early retirement program offered by the Company during the period from February 12, 2013 to February 25, 2013. The Company is expecting an extraordinary loss of approximately 1.482 billion as cost in the special benefits to the employees, for the first quarter of fiscal year ending December 31, 2013. The Company has also amended the consolidated full-year outlook for revenue from an undetermined value to JPY 82,000 million, operating profit from an undetermined value to JPY 3,700 million, ordinary profit from an undetermined value to JPY 2,700 million, net profit from an undetermined value to JPY 800 million and earning per share from an undetermined value to JPY 6.19 for the fiscal year ending December 31, 2013.
JUKI CORP to Offer Early-retirement Program Jan 15, 2013
JUKI CORP announced that it plans to offer an early-retirement program to its full-time employees who are above 40 years old with working experience in the Company for more than three years as of March 31, 2013, as well as part-time employees and contractors, during the period from February 21, 2013 to February 25, 2013. The employees will be offered retirement pay, additional benefits and outplacement support. The Company expects approximately 200 employees to take up the offer, with the retirement date of March 31, 2013.
JUKI CORP Lowers Consolidated Full-year Forecast for FY 2012; Cancels Year-end Dividend Forecast for FY 2012 Nov 14, 2012
JUKI CORP announced that it has lowered the consolidated full-year
forecast for revenue from JPY 90,000 million to JPY 75,000 million, operating
profit (loss) from JPY 2,600 million to JPY (1,800 million), ordinary profit
(loss) from JPY 1,600 million to JPY (2,400 million), net profit (loss) from
JPY 1,100 million to JPY (7,200 million) and earning (loss) per share from JPY
8.51 to JPY (55.72) for the fiscal year ending December 31, 2012. The Company
lowered the consolidated full-year outlook due to the downturn in economy and
the aggravated order environment. The Company has canceled the year-end dividend
forecast of JPY 3.00 per share for the fiscal year ending December 31, 2012.
Juki Corporation Lowers Consolidated Mid-year Outlook and Amends
Full-year Outlook for FY Ending December 2012 Jul 25, 2012
Juki Corporation
announced that it has lowered its consolidated mid-year outlook for revenue
from JPY 43,000 million to JPY 38,500 million, operating profit (loss) from JPY
100 million to JPY (700 million), ordinary profit (loss) from JPY (600 million)
to JPY (1,200 million), net profit (loss) from JPY (700 million) to JPY (1,200
million) and earning per share (loss) from JPY (5.42) to JPY (9.29) for the
fiscal year ending December 31, 2012. The Company also lowered its consolidated
full-year outlook for revenue from JPY 101,500 million to JPY 90,000 million,
ordinary profit from JPY 2,600 million to JPY 1,600 million, net profit from
JPY 1,600 million to JPY 1,100 million and earning per share from JPY 12.38 to
JPY 8.51, and reaffirmed its consolidated full-year outlook for operating
profit of JPY 2,600 million, for the same fiscal year. This is due to the
decreased sale of China market. According to I/B/E/S Estimates, analysts on
average are expecting the Company to report full-year revenue of JPY 90.00
billion and net profit of JPY 1.20 billion.
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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31-Dec-2012 |
31-Dec-2011 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
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Period Length |
12 Months |
9 Months |
12 Months |
12 Months |
12 Months |
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UpdateType/Date |
Updated Normal |
Updated Special |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate (Period
Average) |
79.797487 |
79.698224 |
85.691434 |
92.941082 |
100.484331 |
|
Auditor |
Deloitte Touche
Tohmatsu LLC |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
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Net Sales |
950.3 |
819.7 |
1,045.6 |
613.0 |
774.6 |
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Revenue |
950.3 |
819.7 |
1,045.6 |
613.0 |
774.6 |
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Total Revenue |
950.3 |
819.7 |
1,045.6 |
613.0 |
774.6 |
|
|
|
|
|
|
|
|
Cost of Revenue |
712.7 |
602.5 |
798.4 |
507.2 |
551.1 |
|
Cost of Revenue, Total |
712.7 |
602.5 |
798.4 |
507.2 |
551.1 |
|
Gross Profit |
237.6 |
217.2 |
247.2 |
105.8 |
223.4 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
143.8 |
120.0 |
128.5 |
115.0 |
154.2 |
|
Labor & Related Expense |
96.6 |
76.4 |
91.2 |
91.0 |
104.9 |
|
Advertising Expense |
- |
- |
1.3 |
2.2 |
3.6 |
|
Total Selling/General/Administrative Expenses |
240.3 |
196.4 |
221.0 |
208.3 |
262.7 |
|
Depreciation |
15.5 |
10.5 |
17.0 |
17.8 |
14.3 |
|
Depreciation/Amortization |
15.5 |
10.5 |
17.0 |
17.8 |
14.3 |
|
Restructuring Charge |
- |
- |
- |
0.0 |
25.0 |
|
Impairment-Assets Held for Use |
- |
0.0 |
1.6 |
1.3 |
9.7 |
|
Impairment-Assets Held for Sale |
0.3 |
3.9 |
2.8 |
1.0 |
4.1 |
|
Other Unusual Expense (Income) |
0.0 |
2.5 |
4.5 |
4.2 |
2.1 |
|
Unusual Expense (Income) |
0.4 |
6.4 |
8.9 |
6.5 |
40.9 |
|
Total Operating Expense |
968.8 |
815.8 |
1,045.3 |
739.8 |
869.1 |
|
|
|
|
|
|
|
|
Operating Income |
-18.5 |
3.9 |
0.3 |
-126.9 |
-94.5 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-20.1 |
-14.0 |
-15.5 |
-12.1 |
-11.2 |
|
Interest Expense, Net Non-Operating |
-20.1 |
-14.0 |
-15.5 |
-12.1 |
-11.2 |
|
Interest Income -
Non-Operating |
1.3 |
1.1 |
1.5 |
1.9 |
2.0 |
|
Investment Income -
Non-Operating |
-6.8 |
16.4 |
13.5 |
12.4 |
-1.3 |
|
Interest/Investment Income - Non-Operating |
-5.5 |
17.6 |
15.0 |
14.3 |
0.7 |
|
Interest Income (Expense) - Net Non-Operating Total |
-25.6 |
3.5 |
-0.6 |
2.2 |
-10.5 |
|
Gain (Loss) on Sale of Assets |
5.2 |
7.4 |
20.5 |
-3.0 |
-0.4 |
|
Other Non-Operating Income (Expense) |
6.2 |
3.5 |
5.1 |
2.2 |
7.6 |
|
Other, Net |
6.2 |
3.5 |
5.1 |
2.2 |
7.6 |
|
Income Before Tax |
-32.7 |
18.2 |
25.2 |
-125.4 |
-97.7 |
|
|
|
|
|
|
|
|
Total Income Tax |
71.7 |
8.7 |
-3.6 |
-4.5 |
-4.7 |
|
Income After Tax |
-104.4 |
9.5 |
28.9 |
-121.0 |
-93.1 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.1 |
-0.4 |
-0.1 |
0.1 |
0.1 |
|
Net Income Before Extraord Items |
-104.5 |
9.1 |
28.8 |
-120.9 |
-93.0 |
|
Net Income |
-104.5 |
9.1 |
28.8 |
-120.9 |
-93.0 |
|
|
|
|
|
|
|
|
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 |
-104.5 |
9.1 |
28.8 |
-120.9 |
-93.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-104.5 |
9.1 |
28.8 |
-120.9 |
-93.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
129.2 |
129.2 |
129.2 |
129.2 |
129.2 |
|
Basic EPS Excl Extraord Items |
-0.81 |
0.07 |
0.22 |
-0.94 |
-0.72 |
|
Basic/Primary EPS Incl Extraord Items |
-0.81 |
0.07 |
0.22 |
-0.94 |
-0.72 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
-104.5 |
9.1 |
28.8 |
-120.9 |
-93.0 |
|
Diluted Weighted Average Shares |
129.2 |
129.2 |
129.2 |
129.2 |
129.2 |
|
Diluted EPS Excl Extraord Items |
-0.81 |
0.07 |
0.22 |
-0.94 |
-0.72 |
|
Diluted EPS Incl Extraord Items |
-0.81 |
0.07 |
0.22 |
-0.94 |
-0.72 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.04 |
0.04 |
0.00 |
0.05 |
|
Gross Dividends - Common Stock |
0.0 |
4.9 |
4.5 |
0.0 |
6.4 |
|
Interest Expense, Supplemental |
20.1 |
14.0 |
15.5 |
12.1 |
11.2 |
|
Depreciation, Supplemental |
39.1 |
31.4 |
43.2 |
38.0 |
34.5 |
|
Total Special Items |
-4.8 |
-0.9 |
-11.4 |
9.7 |
41.5 |
|
Normalized Income Before Tax |
-37.5 |
17.3 |
13.8 |
-115.7 |
-56.3 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-1.7 |
-0.5 |
-4.0 |
3.3 |
14.4 |
|
Inc Tax Ex Impact of Sp Items |
70.0 |
8.3 |
-7.7 |
-1.2 |
9.8 |
|
Normalized Income After Tax |
-107.6 |
9.0 |
21.5 |
-114.6 |
-66.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-107.7 |
8.7 |
21.4 |
-114.5 |
-66.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.83 |
0.07 |
0.17 |
-0.89 |
-0.51 |
|
Diluted Normalized EPS |
-0.83 |
0.07 |
0.17 |
-0.89 |
-0.51 |
|
Amort of Acquisition Costs, Supplemental |
- |
0.1 |
0.1 |
0.2 |
0.2 |
|
Advertising Expense, Supplemental |
- |
- |
1.3 |
2.2 |
3.6 |
|
Research & Development Exp, Supplemental |
- |
47.0 |
58.2 |
57.6 |
73.8 |
|
Reported Operating Profit |
-18.2 |
10.2 |
9.2 |
-120.4 |
-49.5 |
|
Reported Ordinary Profit |
-37.5 |
17.2 |
13.7 |
-119.5 |
-52.3 |
|
Normalized EBIT |
-18.2 |
10.3 |
9.2 |
-120.4 |
-53.6 |
|
Normalized EBITDA |
21.0 |
41.7 |
52.5 |
-82.1 |
-19.0 |
|
Current Tax - Total |
4.8 |
- |
- |
- |
- |
|
Current Tax - Total |
4.8 |
- |
- |
- |
- |
|
Deferred Tax - Total |
66.9 |
- |
- |
- |
- |
|
Deferred Tax - Total |
66.9 |
- |
- |
- |
- |
|
Income Tax - Total |
71.7 |
- |
- |
- |
- |
|
Interest Cost - Domestic |
2.6 |
2.0 |
2.5 |
2.5 |
2.1 |
|
Service Cost - Domestic |
8.5 |
6.1 |
9.4 |
8.1 |
9.7 |
|
Prior Service Cost - Domestic |
0.0 |
2.5 |
0.0 |
- |
- |
|
Expected Return on Assets - Domestic |
-1.3 |
-1.0 |
-1.1 |
-1.0 |
-1.0 |
|
Actuarial Gains and Losses - Domestic |
2.3 |
2.4 |
3.9 |
4.0 |
3.0 |
|
Transition Costs - Domestic |
- |
- |
- |
6.5 |
6.3 |
|
Other Pension, Net - Domestic |
- |
0.0 |
0.5 |
2.1 |
7.9 |
|
Domestic Pension Plan Expense |
12.2 |
12.1 |
15.2 |
22.1 |
28.0 |
|
Total Pension Expense |
12.2 |
12.1 |
15.2 |
22.1 |
28.0 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
2.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Total Plan Interest Cost |
2.6 |
2.0 |
2.5 |
2.5 |
2.1 |
|
Total Plan Service Cost |
8.5 |
6.1 |
9.4 |
8.1 |
9.7 |
|
Total Plan Expected Return |
-1.3 |
-1.0 |
-1.1 |
-1.0 |
-1.0 |
|
Total Plan Other Expense |
- |
0.0 |
0.5 |
2.1 |
7.9 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
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 |
82.88 |
93.44 |
98.77 |
|
Auditor |
Deloitte Touche
Tohmatsu LLC |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte & Touche
LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash & Equivalents |
93.9 |
81.1 |
86.6 |
89.3 |
90.7 |
|
Short Term Investments |
- |
- |
0.0 |
0.1 |
0.4 |
|
Cash and Short Term Investments |
93.9 |
81.1 |
86.6 |
89.4 |
91.1 |
|
Accounts Receivable -
Trade, Gross |
246.8 |
272.7 |
209.4 |
140.8 |
129.8 |
|
Provision for Doubtful
Accounts |
-16.9 |
-15.1 |
-14.0 |
-11.7 |
-10.8 |
|
Trade Accounts Receivable - Net |
229.9 |
257.6 |
195.5 |
129.0 |
119.0 |
|
Total Receivables, Net |
229.9 |
257.6 |
195.5 |
129.0 |
119.0 |
|
Inventories - Finished Goods |
390.4 |
384.6 |
291.6 |
214.7 |
276.3 |
|
Inventories - Work In Progress |
45.8 |
60.7 |
63.7 |
50.6 |
36.9 |
|
Inventories - Raw Materials |
71.5 |
102.5 |
81.9 |
48.2 |
52.0 |
|
Total Inventory |
507.6 |
547.8 |
437.2 |
313.5 |
365.2 |
|
Deferred Income Tax - Current Asset |
7.8 |
10.0 |
7.0 |
5.3 |
8.7 |
|
Other Current Assets |
41.6 |
58.8 |
43.0 |
60.4 |
53.5 |
|
Other Current Assets, Total |
49.4 |
68.8 |
50.0 |
65.7 |
62.2 |
|
Total Current Assets |
880.9 |
955.3 |
769.3 |
597.7 |
637.5 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
331.6 |
384.2 |
370.6 |
352.2 |
293.7 |
|
Intangibles, Net |
17.4 |
21.2 |
22.4 |
24.6 |
25.6 |
|
LT Investment - Affiliate Companies |
2.9 |
3.0 |
1.9 |
- |
- |
|
LT Investments - Other |
23.7 |
21.9 |
21.7 |
22.7 |
21.2 |
|
Long Term Investments |
26.7 |
24.9 |
23.6 |
22.7 |
21.2 |
|
Note Receivable - Long Term |
5.8 |
6.8 |
6.7 |
5.7 |
4.9 |
|
Deferred Income Tax - Long Term Asset |
14.0 |
83.9 |
84.1 |
68.5 |
54.2 |
|
Other Long Term Assets |
8.7 |
8.6 |
9.4 |
10.2 |
12.3 |
|
Other Long Term Assets, Total |
22.7 |
92.6 |
93.5 |
78.7 |
66.5 |
|
Total Assets |
1,285.0 |
1,485.0 |
1,286.0 |
1,081.7 |
1,049.4 |
|
|
|
|
|
|
|
|
Accounts Payable |
117.8 |
187.5 |
179.0 |
117.8 |
50.1 |
|
Accrued Expenses |
30.8 |
40.4 |
38.9 |
34.4 |
41.9 |
|
Notes Payable/Short Term Debt |
629.0 |
618.0 |
393.0 |
369.2 |
437.1 |
|
Current Portion - Long Term Debt/Capital Leases |
4.7 |
4.1 |
126.9 |
103.1 |
74.5 |
|
Customer Advances |
- |
- |
- |
- |
0.0 |
|
Security Deposits |
- |
- |
- |
- |
0.0 |
|
Income Taxes Payable |
2.8 |
2.9 |
3.0 |
1.4 |
2.1 |
|
Other Payables |
25.6 |
- |
- |
- |
- |
|
Deferred Income Tax - Current Liability |
- |
0.0 |
0.2 |
0.1 |
0.7 |
|
Other Current Liabilities |
33.6 |
25.6 |
56.7 |
17.5 |
46.7 |
|
Other Current liabilities, Total |
62.0 |
28.5 |
59.9 |
19.1 |
49.5 |
|
Total Current Liabilities |
844.2 |
878.5 |
797.7 |
643.5 |
653.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
293.2 |
330.7 |
241.8 |
235.8 |
103.3 |
|
Capital Lease Obligations |
7.1 |
8.4 |
8.4 |
8.5 |
3.1 |
|
Total Long Term Debt |
300.3 |
339.1 |
250.2 |
244.3 |
106.4 |
|
Total Debt |
934.0 |
961.2 |
770.0 |
716.6 |
617.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
- |
- |
0.0 |
0.0 |
0.0 |
|
Deferred Income Tax |
- |
- |
0.0 |
0.0 |
0.0 |
|
Minority Interest |
3.4 |
3.4 |
3.0 |
2.8 |
2.7 |
|
Pension Benefits - Underfunded |
78.4 |
87.2 |
78.5 |
74.1 |
67.8 |
|
Other Long Term Liabilities |
4.7 |
19.5 |
20.2 |
5.3 |
3.5 |
|
Other Liabilities, Total |
83.0 |
106.8 |
98.8 |
79.5 |
71.4 |
|
Total Liabilities |
1,230.9 |
1,327.7 |
1,149.7 |
970.1 |
833.5 |
|
|
|
|
|
|
|
|
Common Stock |
185.7 |
207.3 |
192.4 |
170.7 |
161.5 |
|
Common Stock |
185.7 |
207.3 |
192.4 |
170.7 |
161.5 |
|
Additional Paid-In Capital |
- |
- |
0.0 |
96.1 |
90.9 |
|
Retained Earnings (Accumulated Deficit) |
-61.8 |
47.4 |
31.4 |
-94.6 |
24.2 |
|
Treasury Stock - Common |
-0.7 |
-0.8 |
-0.7 |
-0.6 |
-0.6 |
|
Unrealized Gain (Loss) |
2.6 |
0.3 |
0.9 |
0.2 |
-0.8 |
|
Translation Adjustment |
-70.2 |
-95.9 |
-86.5 |
-59.1 |
-59.4 |
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Other Comprehensive Income |
-1.6 |
-1.0 |
-1.2 |
-1.1 |
0.0 |
|
Other Equity, Total |
-71.7 |
-96.9 |
-87.7 |
-60.2 |
-59.4 |
|
Total Equity |
54.0 |
157.3 |
136.3 |
111.6 |
215.9 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
1,285.0 |
1,485.0 |
1,286.0 |
1,081.7 |
1,049.4 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
129.2 |
129.2 |
129.2 |
129.2 |
129.2 |
|
Total Common Shares Outstanding |
129.2 |
129.2 |
129.2 |
129.2 |
129.2 |
|
Treasury Shares - Common Stock Primary Issue |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Employees |
6,498 |
6,685 |
6,613 |
6,015 |
5,764 |
|
Number of Common Shareholders |
15,603 |
14,659 |
13,639 |
13,756 |
14,267 |
|
Deferred Revenue - Current |
- |
- |
- |
- |
0.0 |
|
Total Long Term Debt, Supplemental |
445.2 |
481.0 |
384.5 |
336.4 |
176.5 |
|
Long Term Debt Maturing within 1 Year |
150.1 |
135.1 |
126.4 |
100.5 |
73.2 |
|
Long Term Debt Maturing in Year 2 |
121.7 |
134.1 |
86.5 |
88.4 |
50.2 |
|
Long Term Debt Maturing in Year 3 |
91.3 |
103.1 |
82.5 |
69.9 |
31.3 |
|
Long Term Debt Maturing in Year 4 |
53.9 |
68.5 |
57.4 |
37.3 |
15.2 |
|
Long Term Debt Maturing in Year 5 |
27.1 |
32.6 |
29.6 |
30.7 |
5.0 |
|
Long Term Debt Maturing in 2-3 Years |
212.9 |
237.2 |
169.0 |
158.2 |
81.6 |
|
Long Term Debt Maturing in 4-5 Years |
81.0 |
101.1 |
87.0 |
67.9 |
20.2 |
|
Long Term Debt Matur. in Year 6 & Beyond |
1.1 |
7.7 |
2.1 |
9.7 |
1.5 |
|
Total Capital Leases, Supplemental |
11.3 |
11.9 |
11.8 |
11.5 |
4.4 |
|
Capital Lease Payments Due in Year 1 |
4.2 |
3.6 |
3.4 |
3.0 |
1.3 |
|
Capital Lease Payments Due in Year 2 |
4.6 |
4.6 |
4.1 |
3.9 |
1.3 |
|
Capital Lease Payments Due in Year 3 |
1.6 |
2.1 |
2.2 |
1.9 |
0.8 |
|
Capital Lease Payments Due in Year 4 |
0.6 |
0.9 |
1.4 |
1.6 |
0.5 |
|
Capital Lease Payments Due in Year 5 |
0.3 |
0.4 |
0.4 |
0.9 |
0.5 |
|
Capital Lease Payments Due in 2-3 Years |
6.1 |
6.7 |
6.3 |
5.9 |
2.1 |
|
Capital Lease Payments Due in 4-5 Years |
0.9 |
1.3 |
1.8 |
2.5 |
1.0 |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
0.1 |
0.3 |
0.3 |
0.1 |
0.0 |
|
Pension Obligation - Domestic |
135.9 |
154.5 |
143.1 |
128.3 |
133.9 |
|
Plan Assets - Domestic |
54.8 |
60.2 |
55.8 |
46.0 |
44.3 |
|
Funded Status - Domestic |
-81.1 |
-94.3 |
-87.3 |
-82.3 |
-89.6 |
|
Total Funded Status |
-81.1 |
-94.3 |
-87.3 |
-82.3 |
-89.6 |
|
Discount Rate - Domestic |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected Rate of Return - Domestic |
2.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Accrued Liabilities - Domestic |
-76.5 |
-84.9 |
-76.4 |
-70.0 |
-63.8 |
|
Other Assets, Net - Domestic |
4.5 |
9.3 |
10.8 |
12.3 |
25.7 |
|
Net Assets Recognized on Balance Sheet |
-72.0 |
-75.6 |
-65.6 |
-57.7 |
-38.1 |
|
Total Plan Obligations |
135.9 |
154.5 |
143.1 |
128.3 |
133.9 |
|
Total Plan Assets |
54.8 |
60.2 |
55.8 |
46.0 |
44.3 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
Period Length |
12 Months |
9 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 |
85.691434 |
92.941082 |
100.484331 |
|
Auditor |
Deloitte Touche
Tohmatsu LLC |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
-32.7 |
18.2 |
25.2 |
-125.5 |
-97.8 |
|
Depreciation |
39.1 |
31.4 |
43.2 |
38.0 |
34.5 |
|
Depreciation/Depletion |
39.1 |
31.4 |
43.2 |
38.0 |
34.5 |
|
Amortization of Acquisition Costs |
- |
0.1 |
0.1 |
0.2 |
0.2 |
|
Amortization |
- |
0.1 |
0.1 |
0.2 |
0.2 |
|
Unusual Items |
-5.0 |
-3.5 |
-13.2 |
8.1 |
39.2 |
|
Other Non-Cash Items |
25.5 |
14.6 |
3.1 |
5.3 |
16.5 |
|
Non-Cash Items |
20.4 |
11.1 |
-10.1 |
13.4 |
55.7 |
|
Accounts Receivable |
3.5 |
-30.0 |
-69.9 |
-0.4 |
81.4 |
|
Inventories |
37.0 |
-87.8 |
-108.2 |
77.1 |
2.9 |
|
Other Assets |
1.9 |
-16.0 |
5.6 |
-1.9 |
-3.0 |
|
Accounts Payable |
-60.0 |
-1.2 |
48.2 |
65.2 |
-101.6 |
|
Accrued Expenses |
-3.9 |
-5.6 |
0.8 |
-2.6 |
-13.4 |
|
Taxes Payable |
- |
- |
0.2 |
-3.0 |
-1.2 |
|
Other Operating Cash Flow |
-27.8 |
-23.6 |
57.8 |
-47.3 |
-65.6 |
|
Changes in Working Capital |
-49.2 |
-164.2 |
-65.6 |
87.0 |
-100.5 |
|
Cash from Operating Activities |
-22.4 |
-103.5 |
-7.2 |
13.2 |
-107.9 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-14.4 |
-13.2 |
-33.7 |
-114.8 |
-43.6 |
|
Capital Expenditures |
-14.4 |
-13.2 |
-33.7 |
-114.8 |
-43.6 |
|
Sale of Fixed Assets |
15.2 |
11.3 |
30.1 |
1.2 |
4.1 |
|
Sale/Maturity of Investment |
0.0 |
0.0 |
1.8 |
0.4 |
0.0 |
|
Purchase of Investments |
-1.4 |
-5.0 |
-0.6 |
-0.9 |
-1.0 |
|
Other Investing Cash Flow |
4.2 |
-4.3 |
1.0 |
1.9 |
2.1 |
|
Other Investing Cash Flow Items, Total |
17.9 |
2.0 |
32.3 |
2.5 |
5.1 |
|
Cash from Investing Activities |
3.5 |
-11.1 |
-1.4 |
-112.3 |
-38.5 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-3.4 |
-3.6 |
16.0 |
-5.6 |
-0.6 |
|
Financing Cash Flow Items |
-3.4 |
-3.6 |
16.0 |
-5.6 |
-0.6 |
|
Cash Dividends Paid - Common |
-4.9 |
-4.9 |
0.0 |
-0.1 |
-12.8 |
|
Total Cash Dividends Paid |
-4.9 |
-4.9 |
0.0 |
-0.1 |
-12.8 |
|
Short Term Debt, Net |
37.1 |
47.8 |
-1.6 |
-52.7 |
164.2 |
|
Long Term Debt Issued |
147.3 |
174.9 |
128.1 |
234.9 |
83.6 |
|
Long Term Debt
Reduction |
-135.6 |
-111.5 |
-142.4 |
-84.8 |
-88.8 |
|
Long Term Debt, Net |
11.7 |
63.4 |
-14.3 |
150.1 |
-5.3 |
|
Issuance (Retirement) of Debt, Net |
48.8 |
111.2 |
-15.8 |
97.3 |
158.9 |
|
Cash from Financing Activities |
40.5 |
102.8 |
0.1 |
91.7 |
145.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
6.1 |
-3.6 |
-5.7 |
0.6 |
-9.2 |
|
Net Change in Cash |
27.8 |
-15.5 |
-14.2 |
-6.8 |
-10.1 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
71.9 |
87.5 |
96.8 |
96.0 |
98.9 |
|
Net Cash - Ending Balance |
99.8 |
72.0 |
82.6 |
89.2 |
88.8 |
|
Cash Interest Paid |
20.2 |
14.0 |
15.3 |
11.8 |
11.3 |
|
Cash Taxes Paid |
4.5 |
4.3 |
4.8 |
-10.3 |
22.0 |
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-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
Period Length |
12 Months |
9 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Special |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
JPY |
JPY |
JPY |
JPY |
JPY |
|
Exchange Rate
(Period Average) |
79.797487 |
79.698224 |
85.691434 |
92.941082 |
100.484331 |
|
Auditor |
Deloitte Touche
Tohmatsu LLC |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
950.3 |
819.7 |
1,045.6 |
613.0 |
774.6 |
|
Total Revenue |
950.3 |
819.7 |
1,045.6 |
613.0 |
774.6 |
|
|
|
|
|
|
|
|
Cost of Sales |
712.7 |
602.5 |
798.4 |
507.2 |
547.0 |
|
Selling General And Administrative Expen |
2.6 |
- |
- |
- |
- |
|
Other SGA |
117.9 |
- |
- |
- |
- |
|
Sale commission |
- |
- |
12.0 |
10.9 |
15.1 |
|
Packing & freight-out costs |
23.3 |
20.6 |
24.7 |
16.5 |
22.3 |
|
Advertisement expense |
- |
- |
1.3 |
2.2 |
3.6 |
|
Commission expenses |
- |
- |
22.5 |
19.4 |
26.9 |
|
Payroll |
89.8 |
67.8 |
80.1 |
75.6 |
89.1 |
|
Allowance for bonus |
0.1 |
2.4 |
3.6 |
2.6 |
4.2 |
|
Periodic pension cost |
6.6 |
6.1 |
7.4 |
12.7 |
11.7 |
|
Res.dir.'s retire.benefits |
0.0 |
0.0 |
0.1 |
0.1 |
0.0 |
|
Depreciation |
15.5 |
10.5 |
17.0 |
17.8 |
14.3 |
|
Other SGA |
- |
99.4 |
69.3 |
68.3 |
89.8 |
|
Loss On Revision Of Retirement Benefit P |
0.0 |
- |
- |
- |
- |
|
Gain on revision of retirement benefit p |
0.0 |
- |
- |
- |
- |
|
SP G on revision of retirement benefit |
- |
-2.2 |
0.0 |
- |
- |
|
Loss on valuation of golf club membershi |
0.2 |
- |
- |
- |
- |
|
Gain on Extinguishment of Tie-in Shares |
- |
- |
- |
- |
0.0 |
|
Other Special Gains |
0.0 |
0.0 |
-0.7 |
-0.2 |
0.0 |
|
SP Val.Loss-Invest.Sec |
0.2 |
3.9 |
2.8 |
1.0 |
4.1 |
|
SP L on business restructuring |
- |
- |
- |
0.0 |
25.0 |
|
SP Impairment loss on assets |
- |
0.0 |
1.6 |
1.3 |
9.7 |
|
SP Provision for loss on disaster |
- |
0.0 |
3.6 |
0.0 |
- |
|
SP Special pension |
- |
- |
0.5 |
2.1 |
0.0 |
|
SP Val.Loss-Inventories |
- |
- |
- |
0.0 |
4.1 |
|
SP L on revision of retirement benefit |
- |
4.7 |
0.0 |
- |
- |
|
SP Other Special Losses |
0.0 |
0.0 |
1.1 |
2.3 |
2.1 |
|
Total Operating Expense |
968.8 |
815.8 |
1,045.3 |
739.8 |
869.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Losses |
-8.9 |
- |
- |
- |
- |
|
SP Sale Gain-Fixed Asst |
5.6 |
7.9 |
22.5 |
0.6 |
0.7 |
|
SP G on sale of affiliated securities |
- |
- |
0.0 |
1.5 |
0.0 |
|
SP G on settlement of affiliate |
- |
- |
0.0 |
0.5 |
0.0 |
|
SP L on decr. of capital in affi. |
- |
- |
0.0 |
2.0 |
0.0 |
|
Sale Gain-Invest.Sec |
- |
- |
- |
- |
0.0 |
|
SP Loss on Sale/Retir. Asst |
-0.4 |
-0.5 |
-0.7 |
-2.0 |
-1.1 |
|
SP L-call sell business withdrawal |
- |
- |
- |
- |
0.0 |
|
SP Liquidate-Affilidate |
- |
0.0 |
-1.3 |
-2.1 |
0.0 |
|
SP Loss Liquid Business |
- |
- |
- |
0.0 |
- |
|
NOP Interest Income |
1.3 |
1.1 |
1.5 |
1.9 |
2.0 |
|
NOP Dividend Income |
2.1 |
1.6 |
2.4 |
2.4 |
2.4 |
|
Commission Fee |
1.7 |
- |
- |
- |
- |
|
Other Non-Operating Income (Expense) |
0.0 |
- |
- |
- |
- |
|
NOP Commission Income |
- |
- |
- |
1.0 |
1.6 |
|
NOP Rent Income |
- |
- |
- |
- |
0.0 |
|
NOP Exchange Gain |
0.0 |
14.8 |
11.1 |
6.5 |
0.0 |
|
NOP Subsidy gain |
- |
- |
0.0 |
2.4 |
0.0 |
|
NOP Other Non-op. Income |
7.1 |
5.1 |
6.7 |
5.7 |
7.6 |
|
NOP Interest Expense |
-20.1 |
-14.0 |
-15.5 |
-12.1 |
-11.2 |
|
NOP Syndicate loans' commissions |
- |
- |
-0.6 |
-5.9 |
0.0 |
|
NOP Loss Sale NoteRcvl. |
- |
- |
- |
- |
0.0 |
|
NOP Discount-Instal.Debt |
- |
- |
- |
- |
0.0 |
|
NOP Exchange Loss |
- |
- |
- |
0.0 |
-3.7 |
|
NOP Other Non-op.Expense |
-2.6 |
-1.6 |
-1.1 |
-0.9 |
-1.5 |
|
Net Income Before Taxes |
-32.7 |
18.2 |
25.2 |
-125.4 |
-97.7 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
71.7 |
8.7 |
-3.6 |
-4.5 |
-4.7 |
|
Net Income After Taxes |
-104.4 |
9.5 |
28.9 |
-121.0 |
-93.1 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.1 |
-0.4 |
-0.1 |
0.1 |
0.1 |
|
Net Income Before Extra. Items |
-104.5 |
9.1 |
28.8 |
-120.9 |
-93.0 |
|
Net Income |
-104.5 |
9.1 |
28.8 |
-120.9 |
-93.0 |
|
|
|
|
|
|
|
|
Rounding Of Net Income After Tax |
0.0 |
- |
- |
- |
- |
|
Adjustment |
- |
0.0 |
- |
0.0 |
0.0 |
|
Income Available to Com Excl ExtraOrd |
-104.5 |
9.1 |
28.8 |
-120.9 |
-93.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-104.5 |
9.1 |
28.8 |
-120.9 |
-93.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
129.2 |
129.2 |
129.2 |
129.2 |
129.2 |
|
Basic EPS Excluding ExtraOrdinary Items |
-0.81 |
0.07 |
0.22 |
-0.94 |
-0.72 |
|
Basic EPS Including ExtraOrdinary Items |
-0.81 |
0.07 |
0.22 |
-0.94 |
-0.72 |
|
Dilution Adjustment |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
-104.5 |
9.1 |
28.8 |
-120.9 |
-93.0 |
|
Diluted Weighted Average Shares |
129.2 |
129.2 |
129.2 |
129.2 |
129.2 |
|
Diluted EPS Excluding ExtraOrd Items |
-0.81 |
0.07 |
0.22 |
-0.94 |
-0.72 |
|
Diluted EPS Including ExtraOrd Items |
-0.81 |
0.07 |
0.22 |
-0.94 |
-0.72 |
|
DPS-Common Stock |
0.00 |
0.04 |
0.04 |
0.00 |
0.05 |
|
Gross Dividends - Common Stock |
0.0 |
4.9 |
4.5 |
0.0 |
6.4 |
|
Normalized Income Before Taxes |
-37.5 |
17.3 |
13.8 |
-115.7 |
-56.3 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
70.0 |
8.3 |
-7.7 |
-1.2 |
9.8 |
|
Normalized Income After Taxes |
-107.6 |
9.0 |
21.5 |
-114.6 |
-66.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-107.7 |
8.7 |
21.4 |
-114.5 |
-66.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.83 |
0.07 |
0.17 |
-0.89 |
-0.51 |
|
Diluted Normalized EPS |
-0.83 |
0.07 |
0.17 |
-0.89 |
-0.51 |
|
Research & Development expense(SGA+COGS) |
- |
47.0 |
58.2 |
57.6 |
73.8 |
|
Advertising Expense |
- |
- |
1.3 |
2.2 |
3.6 |
|
Interest Expense |
20.1 |
14.0 |
15.5 |
12.1 |
11.2 |
|
Disc. install-Debt Expenses |
- |
- |
- |
- |
0.0 |
|
Amort of Goodwill |
- |
0.1 |
0.1 |
0.2 |
0.2 |
|
BC - Depreciation of Fixed Assets |
39.1 |
- |
- |
- |
- |
|
Depreciation |
- |
31.4 |
43.2 |
38.0 |
34.5 |
|
Current Tax - Total |
4.8 |
- |
- |
- |
- |
|
Current Tax - Total |
4.8 |
- |
- |
- |
- |
|
Deferred Tax - Total |
66.9 |
- |
- |
- |
- |
|
Deferred Tax - Total |
66.9 |
- |
- |
- |
- |
|
Income Tax - Total |
71.7 |
- |
- |
- |
- |
|
Reported operating profit |
-18.2 |
10.2 |
9.2 |
-120.4 |
-49.5 |
|
Reported ordinary profit |
-37.5 |
17.2 |
13.7 |
-119.5 |
-52.3 |
|
Service cost |
8.5 |
6.1 |
9.4 |
8.1 |
9.7 |
|
Interest cost |
2.6 |
2.0 |
2.5 |
2.5 |
2.1 |
|
Expected return on plan assets |
-1.3 |
-1.0 |
-1.1 |
-1.0 |
-1.0 |
|
Pension exp. due to acct. changes |
- |
- |
- |
6.5 |
6.3 |
|
Actuarial gains and losses |
2.3 |
2.4 |
3.9 |
4.0 |
3.0 |
|
Retirement Benefit Expenses Expense Of D |
0.0 |
- |
- |
- |
- |
|
Prior Service Cost |
- |
2.5 |
0.0 |
- |
- |
|
Special retirement benefits |
- |
0.0 |
0.5 |
2.1 |
7.9 |
|
Domestic Pension Plan Expense |
12.2 |
12.1 |
15.2 |
22.1 |
28.0 |
|
Total Pension Expense |
12.2 |
12.1 |
15.2 |
22.1 |
28.0 |
|
Discount Rate(MIN)-Domestic |
2.00% |
- |
- |
- |
- |
|
Discount rate |
- |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected return on assets(MIN)-Domestic |
2.50% |
- |
- |
- |
- |
|
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-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
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 |
82.88 |
93.44 |
98.77 |
|
Auditor |
Deloitte Touche
Tohmatsu LLC |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash and Deposit |
93.9 |
81.1 |
86.6 |
89.3 |
90.7 |
|
Note&Acct.Rcvbl. |
246.8 |
272.7 |
209.4 |
140.8 |
129.8 |
|
Marketable Sec |
- |
- |
0.0 |
0.1 |
0.4 |
|
Inventories - merchan. & finished goods |
390.4 |
384.6 |
291.6 |
214.7 |
276.3 |
|
Inventories - work-in-process |
45.8 |
60.7 |
63.7 |
50.6 |
36.9 |
|
Inventories - raw materials & supplies |
71.5 |
102.5 |
81.9 |
48.2 |
52.0 |
|
Dfrd. Tax Assets |
7.8 |
10.0 |
7.0 |
5.3 |
8.7 |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other Curr.Asset |
41.6 |
58.8 |
43.0 |
60.4 |
53.5 |
|
Doubtful Account |
-16.9 |
-15.1 |
-14.0 |
-11.7 |
-10.8 |
|
Total Current Assets |
880.9 |
955.3 |
769.3 |
597.7 |
637.5 |
|
|
|
|
|
|
|
|
Other PPE |
0.0 |
- |
- |
- |
- |
|
Bldg.&Structure |
186.0 |
223.8 |
219.0 |
210.6 |
89.7 |
|
Machinery Equipment And Vehicles |
33.3 |
41.3 |
41.0 |
39.0 |
46.2 |
|
Tools Furnitures And Fixtures |
16.0 |
11.4 |
10.6 |
12.7 |
13.2 |
|
Land |
86.3 |
97.0 |
90.6 |
81.2 |
75.8 |
|
Lease Assets |
9.3 |
8.9 |
9.0 |
8.6 |
3.0 |
|
Construction |
0.6 |
1.7 |
0.4 |
0.2 |
65.8 |
|
Intangible |
17.4 |
21.2 |
22.4 |
24.6 |
25.6 |
|
Other Investment Securities |
23.7 |
- |
- |
- |
- |
|
Investment Sec |
- |
21.9 |
21.7 |
22.7 |
21.2 |
|
Invt Secs Noncons, Asc, Affd Cos |
2.5 |
- |
- |
- |
- |
|
Invts in Capital Noncons, Ascd, Affd Cos |
0.4 |
- |
- |
- |
- |
|
LT Investment sec.-affilicated company |
- |
2.5 |
1.5 |
- |
- |
|
Other Investment sec.- affili |
- |
0.5 |
0.5 |
- |
- |
|
LT Loan |
5.8 |
6.8 |
6.7 |
5.7 |
4.9 |
|
Other Other |
12.7 |
- |
- |
- |
- |
|
Rounding adjustment Assets |
0.0 |
- |
- |
- |
- |
|
Other Total investments and other assets |
0.0 |
- |
- |
- |
- |
|
LT Prepayment |
2.3 |
4.5 |
4.8 |
4.5 |
4.7 |
|
Dfrd. Tax Asset |
14.0 |
83.9 |
84.1 |
68.5 |
54.2 |
|
Other Assets |
- |
14.4 |
14.6 |
22.5 |
24.2 |
|
Doubtful Account |
-6.4 |
-10.2 |
-10.0 |
-16.9 |
-16.6 |
|
Total Assets |
1,285.0 |
1,485.0 |
1,286.0 |
1,081.7 |
1,049.4 |
|
|
|
|
|
|
|
|
Note&Acct. Pybl. |
117.8 |
187.5 |
179.0 |
117.8 |
50.1 |
|
Short-term loans payable |
628.6 |
- |
- |
- |
- |
|
ST Borrowing |
- |
616.4 |
391.5 |
357.3 |
386.1 |
|
Long-term debt (current) |
- |
- |
123.0 |
94.3 |
72.8 |
|
Straight bond (current) |
0.5 |
0.5 |
0.5 |
5.8 |
0.4 |
|
Lease Liab. (current) |
4.2 |
3.6 |
3.4 |
3.0 |
1.3 |
|
Accounts payable-other |
25.6 |
- |
- |
- |
- |
|
Tax Payable |
2.8 |
2.9 |
3.0 |
1.4 |
2.1 |
|
Accrued Expense |
30.5 |
36.1 |
29.9 |
27.1 |
32.6 |
|
Deferred tax liabilities (current) |
- |
0.0 |
0.2 |
0.1 |
0.7 |
|
Advance Received |
- |
- |
- |
- |
0.0 |
|
Customer Deposit |
- |
- |
- |
- |
0.0 |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Forward Exchange Contracts |
24.7 |
- |
- |
- |
- |
|
Provision for loss on disaster |
- |
0.0 |
3.7 |
- |
- |
|
Bonus Allowance |
0.3 |
4.3 |
9.0 |
7.3 |
9.4 |
|
Officers Bonus Allowance |
- |
- |
- |
- |
0.0 |
|
Note-Equipment |
0.4 |
1.6 |
1.5 |
11.9 |
51.0 |
|
Other Curr. Liab |
8.8 |
25.6 |
53.0 |
17.5 |
46.7 |
|
Total Current Liabilities |
844.2 |
878.5 |
797.7 |
643.5 |
653.0 |
|
|
|
|
|
|
|
|
Corporate Bond |
0.1 |
0.6 |
1.0 |
1.3 |
6.7 |
|
LT Borrowings |
293.1 |
330.1 |
240.8 |
234.5 |
96.6 |
|
Lease Liab. (current) |
7.1 |
8.4 |
8.4 |
8.5 |
3.1 |
|
Total Long Term Debt |
300.3 |
339.1 |
250.2 |
244.3 |
106.4 |
|
|
|
|
|
|
|
|
Res-Accr.Retire |
76.5 |
84.9 |
76.4 |
70.0 |
63.8 |
|
Res-Direc.Retire |
1.8 |
2.3 |
2.1 |
4.1 |
4.0 |
|
Deferred Tax Liab. |
- |
- |
0.0 |
0.0 |
0.0 |
|
Rounding adjustment Liability |
0.0 |
- |
- |
- |
- |
|
Other Liability |
4.6 |
19.5 |
20.2 |
5.3 |
3.5 |
|
Minor. Interest |
3.4 |
3.4 |
3.0 |
2.8 |
2.7 |
|
Total Liabilities |
1,230.9 |
1,327.7 |
1,149.7 |
970.1 |
833.5 |
|
|
|
|
|
|
|
|
Other Equity |
0.0 |
- |
- |
- |
- |
|
Common Stock |
185.7 |
207.3 |
192.4 |
170.7 |
161.5 |
|
Paid in Capital |
- |
- |
0.0 |
96.1 |
90.9 |
|
Retained Earning |
-61.8 |
47.4 |
31.4 |
-94.6 |
24.2 |
|
Treasury Stock |
-0.7 |
-0.8 |
-0.7 |
-0.6 |
-0.6 |
|
Unreal.Gain-Sec |
2.6 |
0.3 |
0.9 |
0.2 |
-0.8 |
|
Deferred hedge gain/loss |
-1.6 |
-1.0 |
-1.2 |
-1.1 |
0.0 |
|
Translate Adjust |
-70.2 |
-95.9 |
-86.5 |
-59.1 |
-59.4 |
|
Total Equity |
54.0 |
157.3 |
136.3 |
111.6 |
215.9 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
1,285.0 |
1,485.0 |
1,286.0 |
1,081.7 |
1,049.4 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
129.2 |
129.2 |
129.2 |
129.2 |
129.2 |
|
Total Common Shares Outstanding |
129.2 |
129.2 |
129.2 |
129.2 |
129.2 |
|
T/S-Common Stock |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Deferred Revenue - Current |
- |
- |
- |
- |
0.0 |
|
Number Of Employees |
6,498 |
- |
- |
- |
- |
|
Full-Time Employees |
- |
6,685 |
6,613 |
6,015 |
5,764 |
|
Total Number of Shareholders |
15,603 |
- |
- |
- |
- |
|
Number of Common Shareholders |
- |
14,659 |
13,639 |
13,756 |
14,267 |
|
Bond Redemption Amounts within A Year |
0.5 |
- |
- |
- |
- |
|
Loans Payable Maturing within a Year |
134.8 |
- |
- |
- |
- |
|
Oth Intt Bearing Maturing within a Year |
14.9 |
- |
- |
- |
- |
|
LT Debt, mat. within 1 yr. |
- |
135.1 |
126.4 |
100.5 |
73.2 |
|
Bond Redemp Amts over a Yr within 2 Yrs |
0.1 |
- |
- |
- |
- |
|
Lns Pble Maturing over a Yr within 2 Yrs |
120.5 |
- |
- |
- |
- |
|
Oth Intt Br Dbt Matg ovr a Yr wthn 2 Yr |
1.1 |
- |
- |
- |
- |
|
LT Debt, mat. by 2 yr. |
- |
134.1 |
86.5 |
88.4 |
50.2 |
|
Lns Pble Maturg over 2 Yrs within 3 Yrs |
90.8 |
- |
- |
- |
- |
|
Oth Intt Br Dbt Matg ovr 2 Yr wthn 3 Yr |
0.5 |
- |
- |
- |
- |
|
LT Debt, mat. by 3 yr. |
- |
103.1 |
82.5 |
69.9 |
31.3 |
|
Lns Pble Maturg over 3 Yrs within 4 Yrs |
53.7 |
- |
- |
- |
- |
|
Oth Intt Br Dbt Matg ovr 3 Yr wthn 4 Yr |
0.2 |
- |
- |
- |
- |
|
LT Debt, mat. by 4 yr. |
- |
68.5 |
57.4 |
37.3 |
15.2 |
|
Lns Pble Maturg over 4 Yrs within 5 Yrs |
27.1 |
- |
- |
- |
- |
|
Oth Intt Br Dbt Matg ovr 4 Yr wthn 5 Yr |
0.1 |
- |
- |
- |
- |
|
LT Debt, mat. by 5 yr. |
- |
32.6 |
29.6 |
30.7 |
5.0 |
|
Other Loans Payable Remaining |
1.1 |
- |
- |
- |
- |
|
Other Other Interest Bearing Remaining |
0.0 |
- |
- |
- |
- |
|
LT Debt, mat. over 5 yr. |
- |
7.7 |
2.1 |
9.7 |
1.5 |
|
Total Long Term Debt, Supplemental |
445.2 |
481.0 |
384.5 |
336.4 |
176.5 |
|
Capital Lease Maturing within a Year |
4.2 |
- |
- |
- |
- |
|
CP Lease Due Within 1 Yr. |
- |
3.6 |
3.4 |
3.0 |
1.3 |
|
Cap Lease Maturg over a Yr within 2 Yrs |
4.6 |
- |
- |
- |
- |
|
CP Lease Due in Year 2 |
- |
4.6 |
4.1 |
3.9 |
1.3 |
|
Cap Lease Maturg over 2 Yr within 3 Yrs |
1.6 |
- |
- |
- |
- |
|
CP Lease Due in Year 3 |
- |
2.1 |
2.2 |
1.9 |
0.8 |
|
Cap Lease Maturg over 3 Yr within 4 Yrs |
0.6 |
- |
- |
- |
- |
|
CP Lease Due in Year 4 |
- |
0.9 |
1.4 |
1.6 |
0.5 |
|
Cap Lease Maturg over 4 Yr within 5 Yrs |
0.3 |
- |
- |
- |
- |
|
CP Lease Due in Year 5 |
- |
0.4 |
0.4 |
0.9 |
0.5 |
|
Other Capital Lease Remaining |
0.1 |
- |
- |
- |
- |
|
Remainings |
- |
0.3 |
0.3 |
0.1 |
0.0 |
|
Total Capital Leases, Supplemental |
11.3 |
11.9 |
11.8 |
11.5 |
4.4 |
|
Pension obligation |
135.9 |
154.5 |
143.1 |
128.3 |
133.9 |
|
Fair value of plan asset |
54.8 |
60.2 |
55.8 |
46.0 |
44.3 |
|
Funded status |
-81.1 |
-94.3 |
-87.3 |
-82.3 |
-89.6 |
|
Total Funded Status |
-81.1 |
-94.3 |
-87.3 |
-82.3 |
-89.6 |
|
Discount rate |
2.00% |
2.00% |
2.00% |
2.00% |
2.00% |
|
Expected rate of return |
2.50% |
2.50% |
2.50% |
2.50% |
2.50% |
|
Expense unrecog. for acc. changes |
- |
- |
- |
0.0 |
6.1 |
|
Unrecognized actuarial gains and losses |
4.5 |
9.3 |
10.8 |
12.3 |
19.6 |
|
Reserve for accrued retirement benefits |
-76.5 |
-84.9 |
-76.4 |
-70.0 |
-63.8 |
|
Net Assets Recognized on Balance Sheet |
-72.0 |
-75.6 |
-65.6 |
-57.7 |
-38.1 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
|
Period Length |
12 Months |
9 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 |
85.691434 |
92.941082 |
100.484331 |
|
Auditor |
Deloitte Touche
Tohmatsu LLC |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Income Before Tax |
-32.7 |
18.2 |
25.2 |
-125.5 |
-97.8 |
|
Depreciation |
39.1 |
31.4 |
43.2 |
38.0 |
34.5 |
|
Amort. Goodwill |
- |
0.1 |
0.1 |
0.2 |
0.2 |
|
Provision for loss on disaster |
- |
0.0 |
3.6 |
0.0 |
- |
|
Impairment loss |
- |
0.0 |
1.6 |
1.3 |
9.7 |
|
Restructuring expense |
- |
- |
- |
0.0 |
25.0 |
|
Doubtful Account |
-0.6 |
-0.4 |
-6.7 |
-0.5 |
6.2 |
|
Reserve for retirement benefits |
0.3 |
2.8 |
-2.3 |
2.5 |
-1.4 |
|
Bonus Allowances |
-3.9 |
-5.6 |
0.8 |
-2.6 |
-12.3 |
|
Directors' Bonuses Allowance |
- |
- |
- |
0.0 |
-1.1 |
|
Int. and Div. Income |
-3.4 |
-2.8 |
-3.9 |
-4.3 |
-4.4 |
|
Interest Expense |
20.1 |
14.0 |
15.5 |
12.1 |
11.2 |
|
Syndicate loans' commissions |
- |
- |
0.6 |
5.9 |
0.0 |
|
Exchange Gain&Loss |
9.0 |
1.0 |
0.4 |
-4.6 |
4.9 |
|
Val.Loss-Invest.Sec |
0.2 |
3.9 |
2.8 |
1.0 |
4.1 |
|
Sale Gain-Invest.Sec |
- |
- |
- |
- |
0.0 |
|
Sale Loss-Invest.Sec |
- |
- |
0.0 |
0.0 |
0.0 |
|
Sale gain- affiliated securitie |
- |
- |
0.0 |
-1.5 |
0.0 |
|
Sale/Retire. L-Fixed&Intang. |
-5.2 |
-7.4 |
-21.8 |
1.4 |
0.4 |
|
(Inc) Dec accounts receiv. |
3.5 |
-30.0 |
-69.9 |
-0.4 |
81.4 |
|
Inventories |
37.0 |
-87.8 |
-108.2 |
77.1 |
2.9 |
|
Account Payable |
-60.0 |
-1.2 |
48.2 |
65.2 |
-101.6 |
|
Sales Tax Payable |
- |
- |
0.2 |
-3.0 |
-1.2 |
|
Discounted Notes |
1.9 |
-16.0 |
5.6 |
-1.9 |
-3.0 |
|
Decrease in cash and cash equivalents fr |
0.0 |
- |
- |
- |
- |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Increase in cash and cash equivalents fr |
0.7 |
- |
- |
- |
- |
|
Others |
-7.2 |
-8.2 |
74.2 |
-42.4 |
-15.5 |
|
Int. and Div. Rcvd. |
3.4 |
2.8 |
3.8 |
4.3 |
4.4 |
|
Interest Paid |
-20.2 |
-14.0 |
-15.3 |
-11.8 |
-11.3 |
|
Business Restructures Paid,cash basis |
- |
- |
-0.3 |
-7.6 |
-21.2 |
|
Taxes Paid |
-4.5 |
-4.3 |
-4.8 |
10.3 |
-22.0 |
|
Adjustment |
- |
- |
0.1 |
0.0 |
- |
|
Cash from Operating Activities |
-22.4 |
-103.5 |
-7.2 |
13.2 |
-107.9 |
|
|
|
|
|
|
|
|
Capital Expenditure |
-14.4 |
-13.2 |
-33.7 |
-114.8 |
-43.6 |
|
Sale-Fixed&Intang. |
15.2 |
11.3 |
30.1 |
1.2 |
4.1 |
|
Purch-Invest.Sec |
-1.2 |
-4.6 |
0.0 |
0.0 |
-0.8 |
|
Sale-Invest.Sec |
0.0 |
0.0 |
0.1 |
0.1 |
0.0 |
|
Sale-affiliate sec. |
- |
0.0 |
1.8 |
0.3 |
0.0 |
|
Loan Extended |
-0.3 |
-0.4 |
-0.6 |
-0.9 |
-0.2 |
|
Loan Recovered |
0.4 |
0.7 |
0.3 |
0.4 |
0.1 |
|
Others |
3.7 |
-5.0 |
0.7 |
1.5 |
2.0 |
|
Cash from Investing Activities |
3.5 |
-11.1 |
-1.4 |
-112.3 |
-38.5 |
|
|
|
|
|
|
|
|
ST Debt, Net |
37.1 |
47.8 |
-1.6 |
-52.7 |
164.2 |
|
Issued-LT Debt |
147.3 |
174.9 |
128.1 |
234.9 |
81.6 |
|
Repaid-LT Debt |
-132.0 |
-108.9 |
-134.5 |
-84.4 |
-83.9 |
|
Bond Issued |
- |
- |
- |
0.0 |
2.0 |
|
Bond redemption |
-0.5 |
-0.4 |
-6.3 |
-0.4 |
-5.0 |
|
Dividend Paid |
-4.9 |
-4.9 |
0.0 |
-0.1 |
-12.8 |
|
Rounding adjustment Cash flow |
0.0 |
- |
- |
- |
- |
|
Div.Paid to Minority |
- |
- |
- |
0.0 |
-0.2 |
|
Payment for repay. of obligation |
-3.1 |
-2.2 |
-1.6 |
0.0 |
- |
|
Proceeds from sale and installment back |
- |
0.0 |
20.2 |
0.0 |
- |
|
Syndicate loans' commissions |
- |
- |
-0.6 |
-5.9 |
0.0 |
|
Others |
-3.4 |
-3.6 |
-3.6 |
0.3 |
-0.3 |
|
Cash from Financing Activities |
40.5 |
102.8 |
0.1 |
91.7 |
145.5 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
6.1 |
-3.6 |
-5.7 |
0.6 |
-9.2 |
|
Net Change in Cash |
27.8 |
-15.5 |
-14.2 |
-6.8 |
-10.1 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
71.9 |
87.5 |
96.8 |
96.0 |
98.9 |
|
Net Cash - Ending Balance |
99.8 |
72.0 |
82.6 |
89.2 |
88.8 |
|
Cash Interest Paid |
20.2 |
14.0 |
15.3 |
11.8 |
11.3 |
|
Cash Taxes Paid |
4.5 |
4.3 |
4.8 |
-10.3 |
22.0 |
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.59.70 |
|
UK Pound |
1 |
Rs.91.14 |
|
Euro |
1 |
Rs.77.98 |
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.